Weekly Market Snapshot: June 9–13, 2026

Canadian markets closed out a turbulent week on a positive note, as the Bank of Canada's decision to hold its benchmark rate at 2.25% and easing Iran tensions helped the TSX recover from a mid-week dip to finish the week up roughly 1.53%. A surprise Dollarama earnings beat gave the retail sector an additional lift.

📊 Market Scoreboard — Week of June 9–13

Index / Asset	Level (Fri. Close)	Weekly Change
S&P/TSX Composite	34,937.85	▲ +1.53%
S&P 500 (USD)	~7,431	▲ ~+0.6% wk
Dow Jones (USD)	51,202	▲ +0.7% Fri
CAD/USD	0.7160	▼ Modest pressure
WTI Crude Oil (USD/bbl)	~$84.29	▼ 8-wk low
Gold (USD/oz)	~$4,226	▲ ~2.8%

Sources: Yahoo Finance Canada, Trading Economics, TMX Money. Figures reflect approximate Friday close / intraday levels as of June 13, 2026.

🔑 5 Things That Moved Markets This Week

1 — Bank of Canada Holds at 2.25%

The BoC held its benchmark rate steady on Wednesday, June 11 — as widely expected after Canada's May jobs report came in with a blowout 88,000 new positions, effectively closing the door on a near-term cut. The hold was priced in, but the accompanying commentary kept markets cautious about the rate-cut timeline for the rest of 2026.

2 — Iran Tensions Rattled Energy & Bond Markets

Escalating U.S.–Iran tensions dominated headlines early in the week, with President Trump threatening further strikes. The TSX dipped to a three-week low of 34,151 on Thursday before recovering. By Friday, Trump signalled that U.S. strikes had concluded and negotiations were close — oil prices pulled back roughly 3.4% on the week as Gulf supply fears eased.

3 — Dollarama Surges ~9% on Q1 Beat

Dollarama (TSX: DOL) was the TSX's standout performer after reporting Q1 net sales of C$1.85 billion — above the C$1.82B forecast — and EPS of C$1.05, topping the C$0.99 estimate. Peers Loblaw (+1%) and Alimentation Couche-Tard (+2%) also advanced. The results signal that Canadian consumers continue to trade down to value retailers amid persistent cost-of-living pressure.

4 — CUSMA/Free Trade Uncertainty Returns

Trump signalled mid-week that Washington may not renew the free trade agreement with Canada and Mexico — even as renegotiation talks continue. The comment added to a broader risk-off tone on the TSX and weighed on the Canadian dollar, which remained near the 71.5¢ USD level throughout the week.

5 — Gold Shines as a Safe Haven

Gold futures climbed roughly 2.8% on the week to ~$4,228 USD/oz as investors sought shelter from geopolitical risk. Barrick Gold added ~1.5% on the TSX. The yellow metal's continued strength underscores investor unease about both inflation and global instability heading into summer.

🗓️ What to Watch Next Week

• U.S. Federal Reserve: Markets will be closely watching any Fed signals on its own rate path — particularly after stronger-than-expected U.S. jobs data last week.
• Iran–U.S. negotiations: Any resumption of hostilities — or a formal deal — could move oil prices sharply in either direction.
• Canadian inflation data: May CPI figures, due mid-month, will be a critical input for the BoC's next rate decision.
• CUSMA trade talks: Any developments on the Canada–U.S. trade renegotiation timeline could move the loonie and export-sensitive sectors.

The Bottom Line

This was a week defined by competing forces: solid Canadian jobs data and a BoC hold suggested economic resilience, while geopolitical risk, trade threats, and a softer loonie reminded investors that 2026 remains anything but smooth sailing. With gold near all-time highs and oil pulling back on de-escalation signals, the coming weeks hinge heavily on what happens in the Middle East — and in Washington.