Canadian Financial Close: Loonie falls to another low.

The Canadian dollar started 2025 by falling further below the 70 United States cents mark.

The loonie closed at another multi-year low at US$0.6936 or US$1=C$1.4418 on Thursday, down from US$0.6950 or US$1=C$1.4389 on Tuesday. The Bank of Canada did not post a closing rate on Wednesday due to New Year’s Day.

The U.S. Dollar Index gained 0.81 of a point at 109.29, but not before reaching its highest level in more than two years at 109.53 earlier in the day.

Crude oil jumped on Thursday after a deal allowing Russia to provide gas to Europe through Ukraine had lapsed. A compressor failure at the Hammerfest LNG plant in Norway also affected prices. Brent crude oil added US$1.24 at US$75.88 per barrel. West Texas Intermediate rose US$1.39 at US$73.11/barrel.

The TSX/S&P Composite Index gained 170.09 points at 24,898.03.

Gold surged $31.80 per ounce at US$2,672.80.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up $ 0.24      at $  3.15

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.50     at $ 56.29

Maple Leaf Foods                 up  $ 0.02     at $ 20.36

Nutrien Ltd.                     up  $ 0.95     at $ 65.27

RB Global Inc.                   up  $ 0.43     at $130.17

(All figures are in Canadian dollars.)