Canadian Financial Close: Loonie steady, crude oil down

Glacier FarmMedia MarketsFarm  – The Canadian dollar was mostly steady on Friday but dipped below the 73 United States cent mark.

The loonie closed at US$0.7298 or US$1=C$1.3702, compared to US$0.7300 or US$1=C$1.3698 on Thursday.

The United States Dollar Index was up 0.21 of a point at 105.80.

Crude oil prices were lower on Friday due to a stronger U.S. dollar. Brent crude oil declined US$0.58 at US$85.13 per barrel. West Texas Intermediate (WTI) dropped US$0.66 at US$80.63/barrel.

Statistics Canada (StatCan) reported earlier today that retail sales increased by 0.7 per cent in April. However, an advance estimate suggested there will be a 0.6 per cent drop in May.

The TSX/S&P Composite Index lost 26.49 points at 21,554.86.

Gold fell US$35.10 at US$2,333.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.05

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.22     at $ 65.88

Maple Leaf Foods                 dn  $ 0.23     at $ 22.30

Nutrien Ltd.                     dn  $ 0.40     at $ 70.65

RB Global Inc.                   dn  $ 0.93     at $105.99

(All figures are in Canadian dollars.)