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Markets Digest Iran Peace Progress and Fed Rate-Hike Risk — June 22, 2026

  Markets are easing into a cautious start this Monday as investors return from a long weekend — U.S. markets were closed Friday for Juneteenth — and assess a mixed backdrop: tentative optimism over U.S.–Iran peace talks, a newly hawkish Federal Reserve, and a key week of economic data and earnings ahead. Oil is steadying, the Canadian dollar is under modest pressure, and Asian markets rallied while European and U.S. futures drifted slightly lower in early trading. 🍁 Canada — TSX & the Loonie The S&P/TSX Composite Index heads into Monday trading with a cautious tone, sitting near the 34,857 level after slipping 0.32% on Thursday — the last day Canadian markets were open. Energy stocks will be in focus as oil prices stabilize following weeks of volatility tied to the U.S.–Iran conflict and the partial reopening of the Strait of Hormuz. The Canadian dollar is trading at approximately 70.52 cents U.S. (CAD/USD: 0.7052), down about 0.22% on the session. The loonie remains und...
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El Salvador Stands Firm on U.S. Deportation Error

 

El Salvador has refused to return Kilmar Abrego Garcia, a Maryland resident mistakenly deported by the United States. President Nayib Bukele made the announcement during a meeting with U.S. President Donald Trump at the White House, dismissing the idea of sending Garcia back as "preposterous". 

The U.S. Supreme Court recently ruled that the Trump administration must facilitate Garcia’s return, acknowledging that his deportation was an administrative error. However, Bukele has insisted that his government will not comply, citing concerns over Garcia’s alleged gang affiliation—an accusation his lawyers strongly deny. 

The case has sparked debate over U.S. immigration policies and international cooperation. While the U.S. government has admitted the mistake, officials argue that they cannot force El Salvador to release Garcia. Meanwhile, human rights advocates continue to push for his return, emphasizing the lack of credible evidence linking him to criminal activity. 

This diplomatic standoff highlights the complexities of immigration enforcement and the challenges of rectifying wrongful deportations. Whether Garcia will be allowed to return to the U.S. remains uncertain as legal and political tensions escalate.

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