Canadian Financial Close: Loonie can’t hold above 74 U.S. cents

WINNIPEG – The Canadian dollar remained a shade under 74 United States cents Thursday, unable to gain any traction to move significantly either way.

The loonie closed at US$0.7394 or US$1=C$1.3524, compared to Wednesday’s finish of US$0.7398 or US$1=C$1.3518. On the U.S. Dollar Index, the greenback was virtually unchanged giving up only 0.004 of a point at 103.315.

Benchmark crude oil prices were slightly higher on Thursday after the People’s Bank of China said it would do what it can to bolster the country’s sluggish economy.

Brent crude oil tacked on 39 cents at US$83.84 per barrel, while West Texas Intermediate added 74 cents at US$80.12. Meanwhile, Western Canadian Select dipped five cents at US$62.34.

The TSX Composite Index eased back 86.84 points on Thursday to close at 19,812.23.

Gold lost US$9.40 at US$1,918.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries                dn $ 0.03      at $  2.55

Farmers Edge Inc.                up $ 0.005     at $  0.20

Linamar Corp.                    dn $ 0.27      at $ 68.65

Maple Leaf Foods                 dn $ 0.30      at $ 29.70

Nutrien Ltd.                     up $ 0.07      at $ 83.04

Ritchie Bros Auctioneers Inc.    up $ 0.14      at $ 76.14

(All figures are in Canadian dollars)