Canadian Financial Close: Loonie steady, TSX tumbles

Glacier FarmMedia | MarketsFarm — The Canadian dollar stayed relatively unchanged and below the 70 United States cent mark to end the week.

The loonie finished at US$0.6990 or US$1=C$1.4307 on Friday, compared to Thursday’s close of US$0.6989 or US$1=C$1.4309. Statistics Canada reported that real gross domestic product rose by 0.4 per cent in January, while growth is estimated to be minimal in February.

The U.S. Dollar Index shed 0.30 of a point at 104.03. The Department of Commerce reported today that the personal consumption expenditures price index, the Federal Reserve’s key inflation measure, was up 0.4 per cent in February. It was the biggest monthly gain since Jan. 2024 and lifted the inflation rate to 2.8 per cent.

Crude oil was lower on Friday due to trade war worries, but it recorded its third straight weekly gain. Brent crude oil retreated US$0.56 at US$73.47 per barrel. West Texas Intermediate declined US$0.76 at US$69.16/barrel.

Trade wars and rising inflation cut the TSX/S&P Composite Index by 401.91 points at 24,759.15.

Gold reached a record price of US$3,124.40 per ounce, a gain of US$33.50.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.27

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 2.12     at $ 49.50

Maple Leaf Foods                 dn  $ 0.12     at $ 24.92

Nutrien Ltd.                     dn  $ 1.07     at $ 71.74

RB Global Inc.                   dn  $ 3.36     at $140.17

(All figures are in Canadian dollars.)