Canadian Financial Close: Loonie eases lower with stronger greenback

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, Feb. 17 (MarketsFarm) – The Canadian dollar was a pinch lower on Thursday, due to added strength in the United States dollar. Further declines in the Canadian dollar were stymied by the threat of war between Russia and Ukraine.

The loonie closed at US$0.7877 or US$1=C$1.2695, compared to Wednesday’s close of US$0.7883 or US$1=C$1.2686.

On the U.S. Dollar Index, the greenback was up 0.128 of a point at 95.825.

Benchmark crude oil prices pulled back on Thursday, as the U.S. and Iran continued to make progress towards renewing the nuclear agreement with the latter. Losses were tempered the Russia-Ukraine border crisis.

Brent crude oil lost US$1.94 at US$92.87 per barrel. West Texas Intermediate (WTI) crude oil dropped US$2.06 at US$91.60 per barrel. Western Canadian Select (WCS) was down 49 cents at US$77.47 per barrel.

The TSX Composite Index fell back on Thursday, losing 207.31 points to finish at 21,176.33.

Gold spiked US$29.30 at US$1,900.80 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.01
Farmers Edge Inc. up $ 0.60 at $ 3.84
Linamar Corp. dn $ 0.72 at $ 67.88
Maple Leaf Foods dn $ 0.07 at $ 32.32
Nutrien Ltd. up $ 2.75 at $ 98.03
Ritchie Bros Auctioneers Inc. dn $ 0.66 at $ 73.88
(All figures are in Canadian dollars.)