Canadian Financial Close: Loonie, oil jump

WINNIPEG – The Canadian dollar rebounded on Thursday after a rise in oil prices as investors await inflation data from the United States tomorrow.

The loonie was at US$0.8283 or US$1=C$1.2073 on Thursday, up from Wednesday’s close at US$0.8258 or US$1=C$1.2110. Meanwhile, the U.S. Dollar Index dipped by 0.04 points to 90.00.

Benchmark crude oil prices increased on Thursday despite concerns of a rise in supplies from Iran. Brent crude oil gained US$0.51 per barrel to US$69.38. West Texas Intermediate (WTI) crude oil jumped by US$0.60 to US$66.81/barrel. Western Canadian Select (WCS) crude oil surged by US$0.74 to US$52.86/barrel.

The TSX Composite Index was slightly higher on Thursday, increasing by 28.94 points to 19,774.41.

Gold edged upward by US$0.58 to US$1,897.26 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.70
Farmer’s Edge Inc. dn $ 0.56 at $ 9.69
Linamar Corp. up $ 3.10 at $ 79.09
Maple Leaf Foods dn $ 0.49 at $ 26.44
Nutrien Ltd. up $ 0.45 at $ 74.35
Ritchie Bros Auctioneers Inc. dn $ 0.96 at $ 72.87

(All figures are in Canadian dollars.)