Canadian Financial Close: Loonie puts brakes to another day of losses
U.S. greenback takes a hit
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar stabilized on Friday, finishing virtually unchanged.
The loonie closed Friday at US$0.6961 or US$1=1.4365, compared to Thursday’s finish of US$0.6959 or US$1=1.4370. On the U.S. Dollar Index, the greenback dropped 0.612 points at 107.540.
Statistics Canada reported October retail sales grew 0.6 per cent at C$67.6 billion, however that was down from 1.4 per cent in September. StatCan forecast November retail sales to be largely unchanged.
Benchmark crude oil prices were a pinch higher on Friday as the market considered the recent interest rate cut by the U.S. Federal Reserve and China’s lacklustre economy.
Brent crude oil tacked on five cents at US$72.93 per barrel and West Texas Intermediate nudged up 13 cents at US$69.51.
The TSX Composite Index closed higher on Friday, recovering a portion of Thursday’s sharp losses. The TSX added 185.54 points to finish at 24,599.48.
Gold advanced US$35.59 at US$2,643.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.95 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 1.34 at $ 57.33 Maple Leaf Foods dn $ 0.17 at $ 20.34 Nutrien Ltd. up $ 0.73 at $ 64.11 RB Global Inc. dn $ 0.66 at $130.06
(All figures are in Canadian dollars)
