Canadian financial close: C$ strengthens Tuesday

Glacier FarmMedia — The Canadian dollar strengthened relative to its United States counterpart on Tuesday, as optimism over possible peace talks in the Middle East had investors showing an increased appetite for risk.

• The Canadian dollar settled at US$0.7269 or US$1=C$1.3757, which compares with Monday’s close of US$0.7240 or US$1=C$1.3812.
• Prime Minister Mark Carney’s Liberal Party secured a parliamentary majority Monday after sweeping three byelections.
• The tentative ceasefire between the U.S. and Iran is set to expire in one week, but more peace talks in Pakistan were being considered after they broke down over the past weekend.
• West Texas Intermediate crude oil lost 6.87 per cent at US$92.27 per barrel.
• The TSX Composite Index gained 223.12 points at 34,102.36 points.

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