Index Performance: The price of ZSP.TO directly reflects the performance of the S&P 500 index. Upward trends in the index will increase the ETF's price, while downward trends will decrease it. Supply and Demand: Market supply and demand for ZSP.TO shares influences its price. Increased demand typically leads to higher prices, and increased supply leads to lower prices. Currency Fluctuations: As ZSP.TO is CAD-denominated and tracks a US index, currency fluctuations between the Canadian and US dollar can affect its price. A stronger US dollar relative to the CAD can increase the ETF's price in CAD terms, and vice versa. Interest Rates: Changes in interest rates, especially in the US, can impact investor sentiment and market valuations, which can subsequently affect the S&P 500 and ZSP.TO. Economic Data: Key economic indicators like GDP growth, inflation, unemployment, and manufacturing data influence the outlook for company earnings and overall market sentiment, thus impacting the S&P 500 and ZSP.TO.