Canadian Financial Close: Loonie, crude oil slightly higher

WINNIPEG – The Canadian dollar moved back above the 76 United States cent mark on Thursday just one day after the Bank of Canada (BoC) raised its key interest rate.

The loonie closed at US$0.7624 or US$1=C$1.3116, up from US$0.7596 or US$1=C$1.3164 on Wednesday. On Wednesday, Canada’s central bank raised its key interest rate by 75 basis points to 3.25 per cent.
The United States Dollar Index declined 0.19 of a point to 109.65.

Crude oil prices were slightly higher on Thursday. Brent crude oil was up US$0.44 per barrel to US$88.44. West Texas Intermediate (WTI) crude oil rose US$0.70 at US$82.64/barrel. Western Canadian Select (WCS) gained US$1.11 per barrel to US$62.80.

The TSX/S&P Composite Index added 171.56 points at 19,413.00.

Gold subtracted US$8.90 at US$1,718.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind. unchanged at $ 2.13
Farmer’s Edge Inc. dn $ 0.06 at $ 0.54
Linamar Corp. up $ 0.72 at $ 64.38
Maple Leaf Foods dn $ 0.01 at $ 22.90
Nutrien Ltd. up $ 0.96 at $119.42
Ritchie Bros Auctioneers Inc. dn $ 2.63 at $ 88.87

(All figures are in Canadian dollars.)