Canadian Financial Close: Loonie higher after Carney confirms Trump meeting
PM says talks likely to be 'difficult, but constructive'
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar closed the week on a high note Friday by adding nearly two-tenths of a cent.
The loonie finished at US$0.7246 or US$1=C$1.3800, compared to Thursday’s close of US$0.7228 or US$1=C$1.3836. On the U.S. Dollar Index, the greenback lost 0.204 of a point at 99.850.
Prime Minister Mark Carney announced he will meet with U.S. President Donald Trump on Tuesday to discuss trade. Carney said he’s anticipating talks about tariffs will be “difficult, but constructive.”
Benchmark crude oil prices stepped back on Friday as concerns over OPEC+ likely to increase its output overpowered possible new U.S. sanctions on Iranian oil exports.
Brent crude was down 55 cents at US$61.58 per barrel and West Texas Intermediate gave up 69 cents at US$58.55.
The TSX Composite Index advanced 235.96 points on Friday, to close at 25,031.51.
Gold increased US$24.20 at US$3,246.40.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 7.29 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 1.10 at $ 52.29 Maple Leaf Foods up $ 0.05 at $ 24.92 Nutrien Ltd. dn $ 0.09 at $ 78.51 RB Global Inc. up $ 3.28 at $141.71
(All figures are in Canadian dollars)
