Canadian Financial Close: Loonie eases off, crude oil falls

WINNIPEG – The Canadian dollar declined below the 75 United States cent mark on Thursday.

The loonie closed at US$0.7491 or US$1=C$1.3350, down from US$0.7513 or US$1=C$1.3311 on Wednesday.

The United States Dollar Index rose 0.36 of a point at 106.64.

Crude oil prices tumbled on Thursday due to a reduced global demand outlook. Brent crude oil dropped US$2.88 per barrel to US$89.98. West Texas Intermediate (WTI) crude oil fell US$3.67 at US$81.92/barrel. Western Canadian Select (WCS) was down US$2.02/barrel to US$54.99.

The TSX/S&P Composite Index shed 73.38 points to 19,884.58.

Gold dropped US$12.50 at US$1,763.30 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  1.85

Farmer’s Edge Inc.               up  $ 0.01     at $  0.36

Linamar Corp.                    dn  $ 0.25     at $ 64.34

Maple Leaf Foods                 dn  $ 0.16     at $ 23.92

Nutrien Ltd.                     up  $ 1.51     at $105.12

Ritchie Bros Auctioneers Inc.    dn  $ 1.18     at $ 73.38

(All figures are in Canadian dollars.)