Canada’s stock market hit new record highs last week, while the loonie strengthened and economic data showed signs of life. But with inflation data, retail sales, AI stock pressure, and a major tariff deadline ahead, this rally could face a real test.

Canada’s stock market finished July higher, helped by strong energy stocks and better-than-expected GDP data. But with tech staying choppy, gold pulling back, and tariffs still creating pressure, August could bring new tests for Canadian investors.

Canada’s stock market just crossed 32,000 for the first time ever. While Aritzia delivered a historic billion-dollar quarter, oil stocks and the Canadian dollar were hit by geopolitical shocks tied to Venezuela. Here’s what last week’s moves mean for your money.