Canadian Financial Close: Loonie takes another hit
Despite lower greenback, higher crude prices
Compiled by MarketsFarm
WINNIPEG, Jan. 19 (MarketsFarm) – The Canadian dollar retreated a little bit more on Thursday, adding more to the losses incurred yesterday.
The loonie closed at US$0.7423 or US$1=C$1.3472, compared to Wednesday’s close of US$0.7441 or US$1=C$1.3439. On the U.S. Dollar Index, the greenback was down 0.262 of a point at 101.845.
The Teranet-National Bank National Composite House Price Index reported the price of a house in Canada fell 1.1 per cent in December, with the largest loss in Winnipeg at 1.8 per cent.
Benchmark crude oil prices were higher on Thursday, overcoming pressure from larger U.S. crude inventories and a decline in exports out of Saudi Arabia.
Brent crude oil added US$1.21 at US$86.19 per barrel and West Texas Intermediate (WTI) tacked on 90 cents at US$80.38. Western Canadian Select (WCS) gained US$1.03 at US$57.23.
The TSX Composite Index finished Wednesday slipping 34.79 points at 20,341.44.
Gold surged ahead US$27.10 at US$1,934.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.04 at $ 1.95 Farmers Edge Inc. unchanged at $ 0.25 Linamar Corp. dn $ 1.27 at $ 64.39 Maple Leaf Foods dn $ 0.83 at $ 25.00 Nutrien Ltd. dn $ 1.77 at $102.68 Ritchie Bros Auctioneers Inc. unchanged at $ 80.28
(All figures are in Canadian dollars.)
