Canadian Financial Close: Loonie steps back
U.S. greenback hits two-year high
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar slipped on Friday, forfeiting almost a tenth of a cent to a stronger United States dollar but increases in crude oil halted further declines.
The loonie closed at US$0.7154 or US$1=C$1.3979 compared to Thursday’s finish of US$0.7163 or US$1=1.3960. On the U.S. Dollar Index, the greenback advanced 0.535 of a point at 107.465 as it hit a two-year high.
Benchmark crude oil prices were higher on Friday, due to rising tensions between the U.S. and Iran as well as between Ukraine and Russia.
Brent crude oil rose 94 cents at US$75.17 per barrel and West Texas Intermediate gained US$1.19 at US$71.29.
The TSX Composite Index added 53.60 points on Friday to close at 25,444.28.
Gold climbed $36.20 at US$2,711.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.88 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.70 at $ 61.85 Maple Leaf Foods up $ 0.01 at $ 22.62 Nutrien Ltd. up $ 0.16 at $ 65.61 RB Global Inc. up $ 3.51 at $136.69
(All figures are in Canadian dollars)
