Glacier FarmMedia — The Canadian dollar was stronger Friday morning, despite a selloff in crude oil as talk of de-escalation in the Middle East had investors showing an increased appetite for riskier assets.
- At 8:58 a.m. CDT the Canadian dollar was trading at US$0.7311 or US$1=C$1.3678 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. United States President Donald Trump also claimed a deal with Iran was close.
- West Texas Intermediate was down 10.15 per cent at US$81.92 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 was 200.81 points higher at 8:58 CDT to trade at 34,253.04.
