Canadian Financial Close: C$ steady to end week

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar held within a narrow range on Friday, with positioning ahead of next week’s Bank of Canada interest rate decision a feature.

It’s generally expected that the Bank will hold rates steady next week, but signs of future moves will be followed closely with many market participants expecting to see rate cuts start in June.

The Canadian dollar settled at US$0.7372 or US$1=C$1.3564 on Friday, which was relatively steady with Thursday’s close of US$0.7369 or US$1=C$1.3570.

Crude oil was stronger, with West Texas Intermediate crude oil up by 1.94 per cent at US$79.78 per barrel.

The TSX Composite Index was up by 188.74 points to close at 21,552.35 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.17

Linamar Corp.——————–dn  $ 0.65    at $ 65.77

Maple Leaf Foods—————–dn  $ 0.10    at $ 22.99

Nutrien Ltd.———————    $ 0.00    at $ 70.84

RB Global Inc.——————-up  $ 1.60    at $103.99

Farmers Edge Inc.—————-dn  $ 0.005   at $  0.345

(All figures are in Canadian dollars.)