Canadian Financial Close: Loonie continues its decline
Crude oil pulling back as well
Compiled by MarketsFarm
WINNIPEG, April 20 (MarketsFarm) – The Canadian dollar eased further back on Thursday, due to weakness in crude oil prices.
The Canadian dollar closed at US$0.7424 or US$1=C$1.3469, compared to Wednesday’s close of US$0.7438 or US$1=C$1.3445. On the U.S. Dollar Index, the greenback inched lower 0.123 of a point at 101.545.
Benchmark crude oil prices were weaker on Thursday as demand, which should be rising at this time of the year, instead continued to recede due to concerns of a global recession.
Brent crude oil lost US$2.28 at US$80.84 per barrel and West Texas Intermediate (WTI) declined US$1.87 at US$73.29/barrel.
The TSX Composite Index dipped 50.14 points on Wednesday at 20,630.59.
Gold advanced US$6.90 at US$2,014.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.38 Farmers Edge Inc. unchanged at $ 0.20 Linamar Corp. dn $ 1.93 at $ 63.60 Maple Leaf Foods dn $ 0.14 at $ 27.30 Nutrien Ltd. dn $ 1.31 at $ 97.11 Ritchie Bros Auctioneers Inc. dn $ 0.21 at $ 78.53
(All figures are in Canadian dollars.)
