Canadian Financial Close: Loonie, crude oil rally

WINNIPEG – The Canadian dollar rebounded above the 78 United States cent mark on Thursday.

The loonie closed at US$0.7817 or US$1=C$1.2792, up from US$0.7790 or US$1=C$1.2837 on Wednesday. Statistics Canada announced on Thursday that retail sales in Canada were virtually unchanged in March and estimated they would rise 0.8 per cent in April. Also, the national data agency reported that Canada’s job vacancy rate was 5.9 per cent in March, matching a record-high from September 2021.

The U.S. Dollar Index dipped 0.29 of a point to 101.76.

Crude oil prices were higher on Thursday prior to the upcoming Memorial Day weekend. Brent crude oil jumped US$3.22 per barrel at US$117.25. West Texas Intermediate (WTI) crude oil climbed US$3.61 at US$113.94/barrel. Western Canadian Select (WCS) advanced US$3.20 to US$97.64.

The TSX/S&P Composite Index rose 148.43 points at 20,532.18.

Gold added US$2.80 per ounce to US$1,855.30.

Canada’s agricultural sector fared as follows:

Buhler Ind. unchanged at $ 2.31
Farmer’s Edge Inc. dn $ 0.05 at $ 2.30
Linamar Corp. up $ 0.49 at $ 52.34
Maple Leaf Foods up $ 0.52 at $ 27.50
Nutrien Ltd. dn $ 3.41 at $122.53
Ritchie Bros Auctioneers Inc. up $ 0.11 at $ 76.04

(All figures are in Canadian dollars.)