Canadian Financial Close: Loonie firm despite support from oil

WINNIPEG – The Canadian dollar was relatively steady on Thursday, with little movement in the United States dollar and upticks in crude oil prices.

The dollar closed at US$0.7381 or US$1=C$1.3549, compared to Wednesday’s close of US$0.7384 or US$1=C$1.3551. On the U.S. Dollar Index, the greenback tacked on 0.007 of a point at 104.530.

Benchmark crude oil prices were higher on Thursday, ahead of an anticipated rate hike by the U.S. Federal Reserve.

Brent crude oil gained US$1.84 at US$82.44 per barrel and West Texas Intermediate (WTI) added US$1.62 at US$75.57. Western Canadian Select (WCS) advanced US$1.78 at US$58.58.

The TSX Composite Index dipped 5.14 points on Thursday to close at 20,188.19.

Gold lost US$11.80 at US$1,829.70 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries               dn $ 0.05     at $ 2.30

Farmers Edge Inc.               up  $ 0.015   at $ 0.275

Linamar Corp.                   up $ 0.94    at $ 74.24

Maple Leaf Foods                up $ 0.39     at $ 27.48

Nutrien Ltd.                    up $ 0.06    at $105.27

Ritchie Bros Auctioneers Inc.   up $ 0.92   at $ 83.84

(All figures are in Canadian dollars.)