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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Canada’s Inflation Climbs to 2.4% as Gas Prices Surge to Record High

 


Canada’s inflation rate accelerated to 2.4% in March, up from 1.8% in February, as the Iran war triggered the largest monthly gasoline price increase on record. Statistics Canada reported that gas prices surged 21.2% month‑over‑month, a supply‑shock response to Iran’s closure of the Strait of Hormuz and broader Middle East instability. 

Energy costs were the dominant driver of March inflation, with overall energy prices rising 3.9% year‑over‑year after a sharp decline the month before. Excluding gasoline, inflation would have eased to 2.2%, highlighting how concentrated the price shock was. 

Food inflation offered mixed relief: grocery prices rose 4.4%, while fresh vegetables jumped 7.8% due to difficult growing conditions. Restaurant inflation cooled sharply as last year’s tax‑holiday distortions fell out of the annual comparison. 

Economists note that while headline inflation spiked, core measures remained relatively tame, giving the Bank of Canada room to hold its policy rate at 2.25% during its upcoming April 29 decision. Still, analysts warn inflation could top 3% in April if oil prices continue rising.

For Canadians already strained by high living costs, March’s numbers underscore how global conflicts can quickly ripple through household budgets — especially at the pump.

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