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Markets Digest Hot U.S. Inflation as Iran Tensions Keep Oil Elevated

Publication:  moneysavings.ca / Canadian Money Brief  Date:  Tuesday, May 13, 2026 The TSX opens cautiously Wednesday after hotter-than-expected U.S. CPI data rattled Wall Street on Tuesday, while Strait of Hormuz disruptions continue to lift energy stocks and pressure the loonie toward 1.35 against the greenback. TSX ~34,291 S&P 500 7,400.96 ▼0.16% WTI Oil ~$102/bbl ▲ Gold ~$4,721 USD/oz ▼ USD/CAD ~1.35 US CPI Apr 3.8% ▲ (est. 3.7%) Market Overview Canadian investors are starting Wednesday on a cautious note following a mixed session south of the border. U.S. equities dipped Tuesday after April's consumer price index came in at 3.8% — a touch above the 3.7% consensus forecast and the highest reading since May 2023 — while the core rate held at 2.8%, also above expectations. The data has effectively closed the door on any Federal Reserve rate cuts in 2026, with traders now pricing in a roughly 70% chance of a rate hike by April 2027. For Canadians, the ripple effects...
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Trump Eases Global Tariffs but Maintains Stance on Canada



In a surprising move, U.S. President Donald Trump has partially reversed his aggressive tariff policies, pausing the highest levies on several nations for 90 days. However, Canada remains excluded from this reprieve. The baseline 10% tariff on imports to the U.S. persists, alongside specific duties on Canadian goods, including automobiles and energy products.

Trump's decision follows mounting pressure from over 75 countries seeking negotiations to mitigate the economic chaos caused by his "reciprocal" tariff regime. While some nations saw relief, Trump doubled down on tariffs for China, raising them to a staggering 125%.

Canada, meanwhile, has responded with retaliatory measures, including tariffs on U.S. vehicles and other goods. The ongoing trade tensions highlight the complexities of Trump's global trade strategy and its ripple effects on international markets.

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