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The US–Iran War Is Hitting Your Wallet: What Every Canadian Needs to Know Right Now

  A conflict thousands of kilometres away has quietly become one of the biggest threats to your household budget in 2026. The war between the United States, Israel, and Iran — now stretching into its third month — is reshaping global energy markets, and Canadians are paying the price at the pump, the grocery store, and everywhere in between. $2.03 Gas/litre in parts of Canada +51¢ Average gas rise since Feb. 28 +30% Canada gas price rise Mar–Apr 20% World oil supply disrupted How We Got Here: The Strait of Hormuz Is Closed On February 28, 2026, the United States and Israel launched coordinated airstrikes against Iran in what was dubbed Operation Epic Fury , targeting military facilities, nuclear sites, and key Iranian leadership — resulting in the death of Supreme Leader Ali Khamenei. Iran's response was swift and punishing: missile barrages on Israeli cities, US military bases across the Gulf, and the formal closure of the Strait of Hormuz to international shipping. The Strait of ...
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Anticipation and Reaction to Fed’s Rate Decision

 


As investors braced for the U.S. Federal Reserve’s decision, North American stock markets experienced a mixed close. The Fed maintained its key interest rate at 5.25%-5.50%, leaving the future of rate cuts uncertain. Despite this, the S&P 500 and Nasdaq dipped, while the Dow Jones and S&P/TSX Composite saw modest gains.

Fed Chair Jerome Powell’s press conference offered a glimmer of hope as he dismissed the likelihood of an immediate rate hike, causing a surge in market optimism. He acknowledged the persistent issue of inflation but expressed confidence in the progress towards the 2% target.

The labor market showed signs of normalization, with job openings at a three-year low2. Meanwhile, the earnings season is more than halfway through, with a majority of S&P 500 companies surpassing consensus expectations.

In the corporate landscape, AMD’s AI chip sales forecast led to a 9% drop in its shares, while Amazon’s AI-driven cloud growth pushed its stock up by 2.2%. Johnson & Johnson plans to proceed with a multi-billion-dollar lawsuit settlement, and Starbucks faced a significant sales forecast cut.

The energy sector took a hit due to falling oil prices and a potential Middle East ceasefire, while uranium miners saw a boost from a U.S. ban on Russian imports. Canadian manufacturing activity continued to contract, reflecting ongoing economic challenges.

In summary, the market’s response to the Fed’s decision was a complex interplay of anticipation, relief, and sector-specific movements, highlighting the intricate dynamics of financial markets.

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