Canadian Financial Close: Canada scores one-month reprieve
Loonie retakes more ground
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar continued its upward swing on Thursday, after United States President Donald Trump agreed to one-month tariff reprieves for Canada and Mexico for goods covered under CUSMA.
The loonie closed Thursday at US$0.6989 or US$1=C$1.4309, compared to Wednesday’s finish of US$0.6959 or US$1=C$1.4370. On the U.S. Dollar Index, the greenback dipped 0.107 of a point at 104.145.
Benchmark crude oil prices were narrowly mixed on Thursday due to those tariffs deals and forthcoming OPEC+ output increases.
Brent crude oil tacked on eight cents at US$69.38 per barrel and West Texas Intermediate shed seven cents at US$66.24.
The TSX Composite Index dropped 286.78 points on Thursday, closing at 24,584.04.
Gold gave up US$7.70 at US$2,918.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 7.20 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.91 at $ 51.65 Maple Leaf Foods dn $ 0.16 at $ 25.19 Nutrien Ltd. up $ 1.54 at $ 73.14 RB Global Inc. dn $ 1.08 at $142.54
(All figures are in Canadian dollars)
