WINNIPEG, Dec. 10 (MarketsFarm) – The Canadian dollar was stronger on Thursday due to a weaker United States dollar and gains in crude oil prices.
The dollar finished at US$0.7853 or US$1.2734, compared to Wednesday’s close of US$0.7811 or US$1=C$1.2803.
The U.S. Dollar Index lost 0.286 leaving the greenback at 90.725 points.
Benchmark crude oil prices were stronger on Thursday, as the market pins its hopes on the coronavirus vaccines leading to a turnaround in the demand for oil in the coming months.
Brent crude oil jumped US$1.46 at US$50.32 per barrel, surpassing US$50/barrel for the first time since the beginning of the global COVID-19 pandemic. West Texas Intermediate (WTI) crude oil rose US$1.35 at US$46.87/barrel. Western Canadian Select (WCS) crude oil gained US$1.04 at US$34.44/barrel.
The TSX Composite Index was up 33.48 points on Thursday to finish at 17,593.34.
Gold lost US$3.92 at US$1,835.62 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 2.76
Linamar Corp. dn $ 0.69 at $ 68.30
Maple Leaf Foods up $ 0.08 at $ 27.95
Nutrien Ltd. dn $ 1.58 at $ 62.63
Ritchie Bros Auctioneers Inc. up $ 1.46 at $ 92.19
Rocky Mountain Dealerships Inc. dn $ 0.02 at $ 6.90
(All figures are in Canadian dollars.)