Canadian Financial Close: C$ strengthens to end week

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar managed to move higher on Friday, taking back most of the losses relative to its United States counterpart posted over the past week.

The Canadian dollar settled at US$0.7428 or US$1=C$1.3462 on Friday, which compares with Thursday’s close of US$0.7405 or US$1=C$1.3505.

Canadian retail sales dipped by 0.2 per cent in November compared to the previous month, hitting C$66.6 billion, according to a report from Statistics Canada. Core retail sales, which exclude gasoline stations and motor vehicle sales, were down by 0.6 per cent. Early estimates for December point to a 0.8 per cent rise in sales during the month.

Crude oil was softer on Friday, with West Texas Intermediate crude oil down by 0.39 per cent at US$73.79 per barrel.

The TSX Composite Index was stronger, gaining 149.79 points to close at 20,906.52 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-up  $ 0.07    at $  2.31

Linamar Corp.——————–up  $ 0.22    at $ 64.19

Maple Leaf Foods—————–up  $ 0.11    at $ 27.31

Nutrien Ltd.———————up  $ 1.65    at $ 69.11

RB Global Inc.——————-dn  $ 1.41    at $ 85.91

Farmers Edge Inc.—————-dn  $ 0.005   at $  0.34

(All figures are in Canadian dollars.)