TSX Futures Pull Back from Record Highs on Oil Pressures

2026-01-07 13:43 By Isabela Couto 1 min. read

Futures tracking Canada’s S&P/TSX Composite dipped on Wednesday after two consecutive record highs, amid more pressure from Canadian oil giants.

Canadian Natural and Enbridge were set to open lower, extending their plunges on the week after US President Trump signaled efforts by the White House to re-establish crude oil imports from Venezuela, threatening the market share for domestic energy exporters.

This was despite Prime Minister Mark Carney's comments stating that Canadian crude remains low risk and competitive, even if Venezuelan exports increase.

Meanwhile, the Ivey PMI is expected to reflect another period of contraction in activity for Canadian goods producers, although money markets do not show a clear consensus on whether that will translate to more rate cuts by the BoC this year.



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