Canadian Financial Close: Loonie falls as U.S. dollar strengthens

Glacier FarmMedia | MarketsFarm – The Canadian dollar dropped sharply on Thursday, closing at its lowest level since April 15.

The loonie ended the day at US$0.7191 or US$1=C$1.3907, compared to US$0.7248 or US$1=C$1.3796 on Wednesday. The United States Dollar Index jumped 1.06 points at 100.67 as the markets anticipate trade talks between the U.S. and China.

Speculation over those trade talks lifted crude oil prices. Brent crude oil gained US$1.87 at US$62.99 per barrel. West Texas Intermediate rose US$2.00 at US$60.07/barrel.

The TSX/S&P Composite Index added 92.88 points at 25,254.06.

Gold dropped US$79 per ounce at $3,312.90.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 4.91     at $ 57.99

Maple Leaf Foods                 up  $ 1.37     at $ 26.50

Nutrien Ltd.                     dn  $ 2.21     at $ 76.19

RB Global Inc.                   up  $ 3.89     at $146.10

(All figures are in Canadian dollars.)