Futures in Canada’s largest centre ended the week on an optimistic note hoping the US Federal Reserve would soon end its monetary tightening campaign. Statistics Canada reported that foreigners acquired $13.5 billion in Canadian securities in April, following March’s significant divestment.
US markets were receptive to big news that the Fed would pause its rate hikes amid encouraging inflation data. The S&P 500 was up 3 per cent on the week, and the NASDAQ was up 4 per cent on the week their best performance since March.
The Canadian dollar traded for 75.75 cents US, compared to 75.66 cents US on Thursday.
US crude futures traded $0.36 higher at $70.98 a barrel, and the Brent contract added $0.24 to $75.91 a barrel.
The price of gold was down US$3.75 to US$ 1,954.63.
In world markets, the Nikkei was up 220.59 points to 33,706.08, the Hang Seng was up 211.45 points to 20,040.37, the FTSE was up 14.46 points to 7,642.72, and the DAX was up 67.51 points to 16,357.63.
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