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Canadian Financial Close: Loonie edges higher

Crude advances on possible OPEC+ reversal

| 1 min read

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)