Canadian Financial Close: Loonie advances amid pressure
Stronger greenback, weaker crude oil
Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 24 (MarketsFarm) – The Canadian dollar was higher on Thursday, despite a stronger United States dollar and losses in crude oil prices.
The loonie closed at US$0.7971 or US$1=C$1.2545, compared to Wednesday’s close of US$0.7955 or US$1=C$1.2574.
On the U.S. Dollar Index, the greenback rose 0.175 of a point at 98.790.
Benchmark crude oil prices declined on Thursday, as China and India purchased crude oil from Russia.
Brent crude oil lost US$3.55 at US$118.05 per barrel. West Texas Intermediate (WTI) crude oil fell US$3.46 at US$111.47 per barrel. Western Canadian Select (WCS) dropped US$3.40 at US$100.11 per barrel.
The TSX Composite Index was flat on Thursday, with a small increase of 5.71 points to finish at 21,937.89.
Gold jump US$24.30 at US$1,961.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.10 at $ 2.70
Farmers Edge Inc. unchanged at $ 2.99
Linamar Corp. dn $ 0.25 at $ 56.12
Maple Leaf Foods dn $ 0.48 at $ 29.22
Nutrien Ltd. up $ 1.40 at $133.89
Ritchie Bros Auctioneers Inc. dn $ 0.32 at $ 73.65
(All figures are in Canadian dollars.)
