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5 Things to Know Today — June 16, 2026

1 TSX Surges 1% on US-Iran Peace Deal The S&P/TSX Composite Index surged 1% to a record 35,276 on Monday following news of a preliminary US-Iran peace agreement. Bank stocks led the rally—RBC, TD, and BMO all advanced strongly—while mining shares gained as gold prices rose. Energy stocks fell sharply as oil prices sank on expectations of renewed supply flows from the Middle East. 2 Bank of Canada's Rate Hold Still in Focus Markets continue to assess the June 10 BoC decision to hold the overnight rate at 2.25%. Economists are watching for signs of inflation stability in upcoming CPI data before any potential rate cuts later this year. Fixed mortgage rates remain elevated, keeping the renewal crisis front and centre for Canadian households. 3 Canada-US Dollar Weakens Near 1.40 The Canadian dollar weakened to around 1.40 USD/CAD as the loonie remains under pressure from soft domestic growth and US trade policy uncertainty. The BoC's measured rate-hold stance is being counte...
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Israel's New Gaza Strategy Sparks Global Concern

Israel has approved a plan to capture the entire Gaza Strip and maintain control over it for an unspecified period, according to Israeli officials. The decision, made in an early morning vote by Israeli cabinet ministers, marks a significant escalation in the ongoing conflict.

The plan aims to defeat Hamas and secure the release of hostages held in Gaza. However, it also involves the displacement of hundreds of thousands of Palestinians to southern Gaza, exacerbating an already dire humanitarian crisis. Since the collapse of a ceasefire in mid-March, Israel has intensified its military operations, capturing approximately 50% of Gaza and restricting humanitarian aid, including food, fuel, and water.

International opposition to the plan is expected to be fierce, with concerns over the long-term implications of Israel's extended presence in Gaza. The United Nations and humanitarian organizations have warned of severe shortages and worsening conditions for civilians. Meanwhile, Israel continues to engage with various countries regarding potential solutions, including controversial proposals for population relocation.

As the situation unfolds, global leaders and humanitarian groups are closely monitoring developments, urging diplomatic efforts to prevent further escalation and address the humanitarian crisis in Gaza.

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