Futures tracking Canadian equities edged higher on Wednesday after US President Donald Trump paused new tariffs on Canadian goods. Trump announced late Tuesday that he was putting a three-day pause on the new 50% tariffs that were set to take effect on Canadian goods on Wednesday, saying the two countries had reached a deal. The prospect of a deal lent support to Canadian exporters. Oil prices hit a three-week high as uncertainty over shipping through the Strait of Hormuz and ongoing supply disruptions persisted, supporting energy producers. Gold prices were supported by a weaker dollar as global bond yields stabilized, supporting mining stocks. Meanwhile, financials and the broader index remained under pressure amid energy-driven inflationary pressures stemming from the Middle East conflict and ahead of the release of the US Federal Reserve’s July meeting minutes.