Futures tracking the S&P/TSX Composite Index rose on Tuesday after Canada's exports climbed to a record C$77.1 billion in May.
Higher shipments of gold ores and concentrates to China lended support to mining stocks.
Oil prices, which had retreated to near pre-conflict levels following the Iran-Israel ceasefire, edged higher after reports of new attacks on vessels in the Strait of Hormuz.
The rebound offered some support to energy stocks but also lifted Canadian bond yields slightly on renewed inflation concerns, limiting gains for financials and the broader market.
Investors also awaited the minutes from the Fed's June meeting.