Global Equity Market Performance: XWD.TO is a global ETF, so the performance of major stock markets worldwide, especially the US, Canada, Europe, and Asia, significantly impacts its price. Positive global market sentiment typically pushes XWD.TO higher, while negative sentiment leads to declines. Currency Fluctuations: As XWD.TO holds international equities, currency exchange rates, particularly the CAD/USD rate, play a crucial role. A weaker Canadian dollar versus other currencies increases the value of foreign holdings when converted back to CAD, boosting XWD.TO's price, and vice-versa. Underlying Index Changes: XWD.TO tracks a specific global equity index. Any changes to the index's composition (additions or deletions of companies) or its weighting methodology can affect the ETF's holdings and, consequently, its price. Investor Demand: High demand for XWD.TO pushes its price up as investors buy more units. Conversely, increased selling pressure lowers the price. This is influenced by overall market conditions and investor risk appetite. Interest Rate Changes: Interest rate changes in major economies can impact equity valuations, affecting XWD.TO. Higher interest rates generally make bonds more attractive, potentially drawing investment away from equities and pressuring XWD.TO's price. Economic Data Releases: Major economic data releases from different countries, such as GDP growth, inflation figures, and employment numbers, can influence market sentiment and affect the performance of the underlying companies held in XWD.TO, impacting its price.