Canadian Financial Close: Loonie stabilizes
Greenback, crude oil effectively cancel out each other
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar was virtually unchanged on Thursday, as upticks in the United States dollar and crude oil essentially balanced out each other.
The loonie closed on Thursday at US$0.6947 or US$1=C$1.4395, compared to Wednesday’s finish of US$0.6949 or US$1=1.490. On the U.S. Dollar Index, the greenback tacked on 0.074 of a point at 109.000, for its best close in a week.
Benchmark crude oil prices were higher on Thursday as demand expanded in the U.S. and Europe with the onset of cold weather. The gains were tempered by persistent sluggishness plaguing China’s economy.
Brent crude oil gained US$1.00 at US$77.16 per barrel and West Texas Intermediate rose 88 cents at US$74.20.
The TSX Composite Index nudged up 21.68 points to close Thursday at 25,073.36.
Gold increased US$19.00 at US$2,691.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.10 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.26 at $ 55.30 Maple Leaf Foods up $ 0.09 at $ 20.18 Nutrien Ltd. up $ 0.36 at $ 69.17 RB Global Inc. dn $ 0.76 at $129.15
(All figures are in Canadian dollars)
