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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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Banking Made Simple: How to Switch Banks in Canada Without Paying a Dime

 

Switching banks in Canada doesn’t have to feel like a costly leap of faith. With a little planning and attention to detail, you can make the move without racking up unnecessary fees. Here's how to do it:

Step-by-Step Guide to Fee-Free Bank Switching

  • 1. Review Your Current Bank Account
    Check for minimum balance requirements, account closure fees, or penalties for early account termination. Knowing these helps you time the switch properly.

  • 2. Choose Your New Bank Wisely
    Look for promotions like free chequing accounts, waived fees, or sign-up bonuses. Many Canadian banks offer incentives for switching—TD, RBC, Scotiabank, and online banks like Tangerine or Simplii Financial often lead the pack.

  • 3. Open Your New Account First
    Don’t close your old account just yet. Open your new account and set up all required features—especially online banking and direct deposit forms.

  • 4. Transfer Your Automatic Payments & Deposits
    This includes your salary, utility bills, subscriptions, and credit card payments. Give this process a couple of weeks before making the final move.

  • 5. Avoid Overlap Charges
    Coordinate the switch so you’re not stuck paying monthly account fees on both old and new accounts. Most banks charge on a specific day, so align your timing accordingly.

  • 6. Close Your Old Account Confidently
    Once everything’s running smoothly in your new account and any pending transactions clear, close your old account. Ask for written confirmation to avoid surprises.

Pro Tip: Use a bank account switching checklist or speak with a financial advisor if you’re unsure about anything. Some banks even offer concierge-style services to help you transfer everything seamlessly.


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