Canadian Financial Close: Loonie closes week higher

By Commodity News Service Canada

WINNIPEG, Jan. 26 – The Canadian dollar rose slightly to
close out the week, supported by gains in the stock market and
price of oil.

The Canadian dollar settled Friday at US$0.8116 or
C$1.2321, compared to Thursday’s North American close of
US$0.8115 or C$1.2323.

Oil prices rose Friday after hitting fresh three-year highs
Thursday, as weakness in the United States dollar continued to
underpin prices with crude on track for a weekly gain. Brent
crude futures rose 28 cents to US$70.70 per barrel.

Bombardier Inc. won an unexpected trade victory Friday
against Boeing Co. The United States International Trade
Commission voted 4-0 to reject imposing a near 300 per cent duty
on sales of Bombardier’s C Series jet to American carriers.
Bombardier shares rose nearly 15 per cent, while Boeing shares
fell slightly.

In Toronto, the TSX/S&P Composite Index rose Friday boosted
by Bombardier shares. The TSX/S&P gained 35.21 points, or 0.22
per cent, to 16,239.22.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–dn $ 0.52 at $ 21.46
Buhler Industries————unchanged at $ 4.33
Maple Leaf Foods————-dn $ 0.38 at $ 35.55
Nutrien Ltd.—————–up $ 1.13 at $ 66.58

(All figures are in Canadian dollars.)