Canadian Financial Close: Loonie steady, crude oil rises

Glacier FarmMedia MarketsFarm – The Canadian dollar stayed still for the most part on Thursday.

The loonie closed at US$0.7340 or US$1=C$1.3624, compared to US$0.7342 or US$1=C$1.3620 on Wednesday.

The United States Dollar Index dropped 0.59 of a point at 104.46. Inflation in the U.S. dropped to an annualized rate three per cent in June from 3.3 per cent in May, which raised expectations the Federal Reserve will cut interest rates in September.

Crude oil prices were higher after a drawdown of United States stockpiles. Brent crude oil was up US$0.59 at US$85.67 per barrel. West Texas Intermediate (WTI) rose US$0.91 at US$83.01/barrel.

The TSX/S&P Composite Index jumped 193.90 points at

22,544.13.

Gold surged US$40.20 at US$2,419.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.02

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 1.36     at $ 66.75

Maple Leaf Foods                 dn  $ 0.02     at $ 24.51

Nutrien Ltd.                     up  $ 1.98     at $ 67.72

RB Global Inc.                   up  $ 2.08     at $107.43

(All figures are in Canadian dollars.)