Canadian Financial Close: Loonie holds steady
Bullish reaction to U.S. inflation report
Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 13 (MarketsFarm) – The Canadian dollar was virtually unchanged on Thursday despite a decrease in the United States dollar and increases in crude oil prices.
The loonie finished the day at US$0.7243 or US$1=C$1.3806, compared to Wednesday’s close of US$0.7245 or US$1=C$1.3802.
On the U.S. Dollar Index, the greenback dropped 0.844 of a point at 112.380.
The U.S. Department of Labour reported that the core consumer price index hit a 40-year high in September. Excluding food and energy costs, the 6.6 per cent hike from a year ago marked the highest level since 1982.
Benchmark crude oil prices turned around on Thursday in a bullish reaction to the CPI report.
Brent crude oil added US$2.24 at US$94.69 per barrel. West Texas Intermediate (WTI) crude oil gained US$1.94 at US$89.21/barrel. Meanwhile, Western Canadian Select (WCS) jumped US$4.14 at US$58.80 per barrel.
The TSX Composite Index climbed 407.32 points to finish Thursday at 18,613.63.
Gold lost US$6.00 at US$1,671.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.02
Farmers Edge Inc. dn $ 0.06 at $ 0.47
Linamar Corp. up $ 1.65 at $ 56.52
Maple Leaf Foods up $ 0.54 at $ 20.91
Nutrien Ltd. up $ 4.63 at $119.00
Ritchie Bros Auctioneers Inc. up $ 0.94 at $ 84.13
(All figures are in Canadian dollars.)
