Thanks to a de-escalation in the global trade war and encouragingly soft US inflation data, Canada’s main stock index managed to gain some ground as the trading day concluded ahead of a long weekend. Investors largely welcomed the 90-day reprieve in the US-China tariff dispute, which helped ease worries about a global recession.
Hopes for further trade agreements with the US were also ignited by a bilateral deal struck with the UK just a week prior. This week’s breakthrough, where US and Chinese officials agreed to a 90-day tariff truce, propelled a strong comeback for US stocks by calming investor fears about rising global trade tensions and economic risks.
The Canadian dollar traded for 71.51 cents US compared to 71.65 cents US on Thursday.
US crude futures traded $0.75 higher at US$62.52 a barrel, and the Brent contract rose $0.74 to US$65.44 a barrel.
The price of gold was down US$33.54 to US$3,190.85.
In world markets, the Nikkei was down 1.79 point to ¥37,753.72, the Hang Seng was down 108.11 points to HK$23,345.05, the FTSE was up 50.81 points to ₤8,684.56, and the DAX was up 71.84 points to €23,767.43.
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