Futures tracking the S&P/TSX Composite Index moved higher on Monday after the US and Iran announced a preliminary peace agreement. The two countries reached an interim deal aimed at ending the conflict. US President Donald Trump said the agreement would halt hostilities and reopen the Strait of Hormuz. Oil prices fell, easing concerns that an energy-driven inflation spike could trigger a hawkish shift by global central banks. Bond yields declined, supporting banking stocks and the broader market as worries over higher borrowing costs faded. Meanwhile, gold prices advanced, providing support to mining shares. Investors are now focused on the US Federal Reserve's policy meeting, which concludes on Wednesday, with markets increasingly expecting policymakers to leave interest rates unchanged.