Glacier FarmMedia — The Canadian dollar finished the week at its strongest levels of the past month relative to its United States counterpart as investors reacted to easing tensions in the Middle East.
- The Canadian dollar settled at US$0.7315 or US$1=C$1.3671, which compares with Thursday’s close of US$0.7294 or US$1=C$1.3710.
- Crude oil fell sharply as Iran’s foreign minister said the Strait of Hormuz would be open to all commercial vessels during the ceasefire period. U.S. President Donald Trump also claimed a deal with Iran was close.
- West Texas Intermediate was down 8.46 per cent at US$83.46 per barrel.
- Canadian investors acquired C$25.4 billion of foreign securities in February, while foreign investors bought C$6.2 billion of Canadian securities resulting in a net outflow of C$19.2 billion from the Canadian economy, reported Statistics Canada. That followed a net inflow of C$35.4 billion the previous month.
- The TSX Composite Index gained 294.06 points at 34,346.29 points.
