Canadian Financial Close: Loonie defies pressure to rise higher
Greenback up, crude oil tumbles
Compiled by MarketsFarm
WINNIPEG, June 22 (MarketsFarm) – Despite ample pressure, the Canadian dollar climbed up a little further on Thursday. Upticks in the United States dollar and sharp losses in crude oil tempered additional increases in the loonie.
The Canadian dollar closed at US$0.7599 or US$1=C$1.3160, compared to Wednesday’s finish of US$0.7586 or US$1=C$1.3183. Meanwhile, the greenback gained 0.339 of a point at 102.015 on the U.S. Dollar Index.
Benchmark crude oil prices were weaker on Thursday, falling from four-week highs, as market speculated the U.S. Federal Reserve will raise its interest rate again this year weighed on values.
Brent crude oil retreated US$3.03 at US$74.09 per barrel and West Texas Intermediate (WTI) lost US$3.12 at US$69.42/barrel.
The TSX Composite Index fell 125.05 points on Thursday to close at 19,580.90.
Gold dropped US$21.10 at US$1,923.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.08 at $ 2.05 Farmers Edge Inc. up $0.005 at $ 0.185 Linamar Corp. dn $ 2.59 at $ 67.51 Maple Leaf Foods dn $ 0.41 at $ 25.13 Nutrien Ltd. dn $ 1.17 at $ 78.49 Ritchie Bros Auctioneers Inc. dn $ 1.49 at $ 74.75
(All figures are in Canadian dollars.)
