Canadian Financial Close: Loonie edges higher
Crude advances on possible OPEC+ reversal
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar closed a pinch higher on Thursday, as the United States dollar eased back while crude oil made gains.
The loonie closed at US$0.7307 or US$1=C$1.3686, compared to Wednesday’s finish of US$0.7301 or US$1=C$1.3696. On the U.S. Dollar Index, the greenback lost 0.146 of a point at 104.075.
Benchmark crude oil prices were higher on Thursday after it was announced that OPEC+ could reverse its decision to increase production. Brent crude oil added US$1.47 at US$79.88 per barrel and West Texas Intermediate was up US$1.49 at US$75.56.
The TSX Composite Index rose 84.08 points on Thursday to close at 22,229.10.
Gold advanced US$16.50 at US$2,392.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.19 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.66 at $ 69.65 Maple Leaf Foods dn $ 0.17 at $ 22.74 Nutrien Ltd. up $ 0.07 at $ 76.37 RB Global Inc. up $ 0.65 at $100.50
(All figures are in Canadian dollars)