Canadian Financial Close: Loonie, crude oil in opposite directions

Glacier FarmMedia | MarketsFarm – The Canadian dollar dipped on Friday, capping off a tough week in which the currency lost more than six-tenths of a United States cent.

The loonie ended the day at US$0.7180 or US$1=C$1.3927, compared to US$0.7191 or US$1=C$1.3907 on Thursday.

Statistics Canada reported the country’s unemployment rate rose to 6.9 per cent in April while also adding 7,400 jobs to the economy.

The U.S. Dollar Index eased off 0.27 of a point at 100.37.

Upcoming trade talks between the U.S. and China boosted crude oil prices. Brent crude oil gained US$1.01 at US$63.85 per barrel. West Texas Intermediate was up US$1.03 at US$60.94/barrel.

The TSX/S&P Composite Index added 103.68 points at 25,357.74.

Gold rose US$28.80 per ounce at $3,334.80.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 2.01     at $ 60.00

Maple Leaf Foods                 up  $ 0.22     at $ 26.72

Nutrien Ltd.                     up  $ 1.29     at $ 77.48

RB Global Inc.                   up  $ 1.82     at $147.92

(All figures are in Canadian dollars.)