Canadian Financial Close: Loonie, crude oil retreat

WINNIPEG – The Canadian dollar was in decline once again on Thursday.

The loonie closed at US$0.7233 or US$1=C$1.3825, compared to US$0.7256 or US$1=C$1.3782 on Wednesday. That day, the Bank of Canada (BoC) left its key interest rate unchanged at five per cent, while raising the possibility of future rate hikes.

The United States Dollar Index was up 0.12 of a point at 106.65.

Crude oil prices were down on Thursday due to a stronger U.S. dollar and delays in Israel’s planned ground offensive into Gaza. Brent crude oil fell US$1.77 at US$88.36 per barrel. West Texas Intermediate (WTI) lost US$1.76 to US$83.63/barrel.

The TSX/S&P Composite Index shed 72.54 points to 18,875.31.

Gold added US$0.70 at US$1,995.60 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.31

Farmer’s Edge Inc.               dn  $ 0.01     at $  0.09

Linamar Corp.                    dn  $ 0.60     at $ 61.56

Maple Leaf Foods                 up  $ 0.05     at $ 25.75

Nutrien Ltd.                     up  $ 0.34     at $ 77.67

RB Global Inc.                   dn  $ 0.01     at $ 86.71

(All figures are in Canadian dollars.)