Canadian Financial Close: Loonie ends week in decline

Glacier FarmMedia | MarketsFarm – The Canadian dollar moved lower on Friday due to an increase in the United States dollar and losses in crude oil.

The loonie closed at US$0.6928 or US$1=C$1.4435, down from US$0.6950 or US$1=C$1.4388 on Thursday.

The U.S. Dollar Index was up 0.45 of a point at 109.40. The U.S. markets will be closed for Martin Luther King Jr. Day on Monday, the same day as the inauguration of Donald Trump as president.

Crude oil declined as the Israel-Hamas ceasefire outweighed new sanctions on Russian oil. Brent crude oil lost US$0.53 at US$80.76 per barrel. West Texas Intermediate dropped US$0.71 at US$77.97/barrel.

The TSX/S&P Composite Index jumped 221.72 points at 25,067.92.

Gold shed $14.50 per ounce at US$2,736.40.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up  $ 0.04     at $  3.39

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.24     at $ 57.81

Maple Leaf Foods                 up  $ 0.13     at $ 21.04

Nutrien Ltd.                     up  $ 0.44     at $ 74.60

RB Global Inc.                   dn  $ 0.12     at $129.18

(All figures are in Canadian dollars.)