Canadian Financial Close: Loonie down, crude oil falls before Labour Day

Glacier FarmMedia MarketsFarm – The Canadian dollar entered the Labour Day weekend moving lower on Friday.

The loonie closed at US$0.7412 or US$1=C$1.3491, compared to US$0.7422 or US$1=C$1.3474 on Thursday.

Markets in Canada and the United States will be closed Monday for the holiday.

The United States Dollar Index was up 0.35 of a point at 101.69.

Crude oil prices dropped on Friday on speculation OPEC+ will increase output in the fourth quarter later this year. West Texas Intermediate (WTI) fell US$2.30 at US$73.61 per barrel. Brent crude oil erased US$1.14 at US$78.80/barrel.

The TSX Composite Index jumped 118.69 points at 23,346.18.

Gold tumbled US$25.40 at US$2,534.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.40

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.48     at $ 63.20

Maple Leaf Foods                 dn  $ 0.29     at $ 22.08

Nutrien Ltd.                     up  $ 0.15     at $ 65.27

RB Global Inc.                   up  $ 1.09     at $116.10

(All figures are in Canadian dollars.)