Canadian Financial Close: Loonie tumbles below 73 U.S. cents
Stronger crude prices can't stave off losses
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar lost about a third of a cent on Thursday, despite spikes in crude oil prices while the United States dollar moved very little.
The loonie closed at US$0.7271 or US$1=C$1.3754, compared to Wednesday’s finish of US$0.7305 or US$1=C$1.3690. On the U.S. Dollar Index, the greenback slipped 0.055 of a point at 102.640.
Benchmark crude oil prices were higher on Thursday due the effects of Hurricane Milton on U.S. supplies and increased fears of Israel striking at Iran’s oil facilities.
Brent crude oil climbed US$2.86 at US$79.44 per barrel and West Texas Intermediate rose US$2.70 at US$75.94.
The TSX Composite Index bumped up 77.36 points on Thursday to close at 24,302.26.
Gold advanced US$21.30 at US$2,647.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.45 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.77 at $ 64.61 Maple Leaf Foods up $ 0.32 at $ 22.36 Nutrien Ltd. up $ 0.13 at $ 67.39 RB Global Inc. dn $ 1.57 at $109.29
(All figures are in Canadian dollars)
