Market Sentiment: Overall investor confidence and risk appetite significantly influence ETF prices. Positive sentiment drives demand, pushing prices up; negative sentiment causes selling pressure, lowering prices.

Underlying Holdings' Performance: EQL-U.TO tracks an index of equally weighted U.S. equities. The performance of these underlying stocks directly impacts the ETF's net asset value (NAV) and market price.

Currency Fluctuations: As EQL-U.TO is a Canadian-listed ETF investing in U.S. equities, changes in the CAD/USD exchange rate affect its price. A stronger CAD relative to the USD decreases the ETF price, and vice versa.

Supply and Demand: Basic economic principles apply. High demand and limited supply increase the price, while low demand and ample supply decrease it. Creation and redemption activity influences supply.

Trading Volume and Liquidity: Higher trading volume and liquidity generally lead to tighter bid-ask spreads and more efficient price discovery. Lower volume can result in wider spreads and greater price volatility.

Index Rebalancing: Periodic index rebalancing, where the underlying index adjusts its holdings, can create buying or selling pressure on the ETF, impacting its price.

Economic News and Events: Major economic releases, geopolitical events, and changes in interest rates can affect investor sentiment and the performance of the underlying U.S. equities, consequently influencing the ETF's price.