Canadian Financial Close: Loonie stands pat after GDP report
Little movement in greenback, crude oil
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was virtually unchanged on Friday, following the Statistics Canada report on economic growth.
The loonie closed at US$0.7306 or US$1=C$1.3687, compared to Thursday’s finish of US$0.7305 or US$1=C$1.3690. On the U.S. Dollar Index, the greenback dipped 0.011 of a point at 105.560.
StatCan reported the country’s gross domestic product rose by 0.3 per cent in April, with a 0.1 per cent gain projected for May.
Benchmark crude oil prices were mixed on Friday in a tussle between ongoing Middle East tensions versus weaker U.S. demand along with profit-taking.
Brent crude oil added two cents at US$86.41 per barrel and West Texas Intermediate lost 23 cents at US$81.51.
The TSX Composite Index gave up 66.37 points on Friday to close at 21,875.79.
Gold lost US$2.40 at US$2,334.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.05 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.68 at $ 66.49 Maple Leaf Foods up $ 0.12 at $ 22.92 Nutrien Ltd. dn $ 1.51 at $ 69.65 RB Global Inc. dn $ 1.15 at $104.34
(All figures are in Canadian dollars)
