Canadian Financial Close: C$ hits five-month high

By Phil Franz-Warkentin

Glacier FarmMedia, MarketsFarm – The Canadian dollar was stronger on Thursday, continuing to gain ground relative to its United States counterpart as fund traders were thought to be exiting short positions ahead of the New Year.

The Canadian dollar settled at US$0.7513 or US$1=C$1.3311 on Thursday, which compares with Wednesday’s close of US$0.7501 or US$1=C$1.3331.

Retail sales in Canada rose 0.7 per cent in October hitting C$66.9 billion, according to a report from Statistics Canada. Sales were up in seven of nine subsectors, led by a 1.1 per cent increase at motor vehicle and parts dealers. Early estimates for November suggest that sales held steady during the month.

Crude oil posted small losses, with West Texas Intermediate crude oil down by 0.31 per cent at US$73.99 per barrel.

The TSX Composite Index was stronger, gaining 164.92 points to close at 20,765.73 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-up  $ 0.09    at $  2.39

Linamar Corp.——————–up  $ 1.86    at $ 65.44

Maple Leaf Foods—————–dn  $ 0.13    at $ 24.96

Nutrien Ltd.———————up  $ 1.11    at $ 75.30

RB Global Inc.——————-up  $ 1.73    at $ 87.52

Farmers Edge Inc.—————-    $ 0.00    at $  0.24

(All figures are in Canadian dollars.)