Canadian Financial Close: Loonie holds still
StatCan reports on Q3 growth
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar was unchanged on Thursday following the latest Statistics Canada report on the country’s economy.
The loonie remained at US$0.7186 or US$1=C$1.3915. On the United States Dollar Index, the greenback shed 0.052 of a point at 103.810.
StatCan said Canada’s gross domestic product likely grew one per cent in the third quarter of 2024, coming in below the Bank of Canada estimate of 1.5 per cent.
Benchmark crude oil prices were higher on Thursday, after reports said Iran was preparing for another attack by Israel.
Brent crude oil gained 61 cents at US$73.16 per barrel and West Texas Intermediate climbed US$1.97 at US$70.58.
The TSX Composite Index dropped 350.92 points on Thursday to close at 24,156.87.
Gold fell US$43.00 at US$2,757.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.45 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 1.86 at $ 56.97 Maple Leaf Foods dn $ 0.29 at $ 21.06 Nutrien Ltd. dn $ 0.29 at $ 66.39 RB Global Inc. dn $ 1.90 at $117.97
(All figures are in Canadian dollars)
