Canadian Financial Close: Loonie takes another step downward
Higher crude can't prop up Canadian dollar
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar continued to slip back on Thursday, following the Bank of Canada’s decision to cut its key lending rate.
The loonie closed at US$0.7236 or US$1=C$1.3819, compared to Wednesday’s finish of US$0.7250 or US$1=C$1.3794. On the U.S. Dollar Index, the greenback nudged up 0.013 of a point at 104.135.
Benchmark crude oil prices were higher on Thursday as a rally in the equities countered concerns over China’s sluggish economy.
Brent crude oil added 51 cents at US$82.22 per barrel and West Texas Intermediate also gained 51 cents at US$78.10.
The TSX Composite Index shed 31.54 points on Thursday to close at 22,608.03.
Gold dropped US$54.00 at US$2,361.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.02 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.62 at $ 68.15 Maple Leaf Foods dn $ 0.09 at $ 24.74 Nutrien Ltd. up $ 1.83 at $ 70.14 RB Global Inc. dn $ 1.13 at $108.66
(All figures are in Canadian dollars)
