Canadian Financial Close: Hovering around 75 U.S. cents, loonie remains unchanged

By MarketsFarm

WINNIPEG, March 14 (MarketsFarm) – The Canadian dollar was unchanged at market close on Thursday, as the Toronto Stock Exchange (TSX) and gold prices fell.

The dollar finished Thursday at US$0.7504 or US$1=C$1.3327.

The TSX slipped 62.42 points to finish Thursday at 16,087.55 points as prices for material companies lost ground.

The federal Liberal government could have approximately C$5 billion extra in revenue for Finance Minister Bill Morneau’s March 19 budget, according to a report. Good economic growth for most of 2018 has provided the extra revenue. Faced with a less than rosy economic outlook for much of 2019, the additional revenue could prove helpful for the Liberals in October’s federal election.

The TD Bank forecast a cut in the Bank of Canada’s key interest rates in 2019 and a freeze in rates throughout 2020, according to a report.

Benchmark oil prices were mixed on Thursday. Brent crude oil lost 41 cents to close at US$67.14 per barrel. West Texas Intermediate crude oil was up 25 cents to close at US$58.51 per barrel.

Gold was down US$13.70 on Thursday to US$1,295.60 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients up $ 0.01 at $ 17.79
Buhler Industries unchanged at $ 3.61
Linamar Corp. dn $ 0.15 at $ 47.78
Maple Leaf Foods dn $ 0.50 at $ 26.75
Nutrien Ltd. dn $ 0.13 at $ 71.55
Ritchie Bros Auctioneers Inc. up $ 0.25 at $ 45.29
Rocky Mountain Dealerships Inc. up $ 0.06 at $ 8.80
(All figures are in Canadian dollars.)

COPA Medallion COPA finalist in 2012, 2014 and 2015.
©2019 AGCanada is a production of Glacier FarmMedia Limited Partnership. Any affiliated or third party content is the property of its respective owner and is used with permission.
Please refer to Copyright Page for details.
Click here to view our Website Terms of Use.