Futures tracking the S&P/TSX Composite index were flat on Tuesday, holding the slight recovery from the previous session as the pullback in energy prices eased pro-inflationary risks for the Canadian economy. US President Trump stated that the war against Iran could be approaching its end, driving crude oil and natural gas benchmarks to trim their surges this month as investors priced the possibility that exports from the Persian Gulf could resume shortly. Lenders were due to open higher on the softened risks of inflation, while the pullback for the US dollar aided the heavyweight gold mining sector of the Toronto Exchange. Conversely, oil producers were due for a lower open as oil prices pulled back. Also, Air Canada was pressured by a downgrade by Scotiabank, tracking troubles for airlines worldwide due to the surge in jet fuel prices and flight disruptions in the Middle East.
