Canadian Financial Close: More gains for the loonie
But greenback pushes higher again, as crude relatively steady
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar pushed higher on Friday, despite a lack of support.
The Canadian dollar closed at US$0.7475 or US$1=C$1.3378, compared to Thursday’s finish of US$0.7452 or US$1=C$1.3419. On the U.S. Dollar Index, the greenback advanced 0.652 of a point at 102.230.
Benchmark crude oil prices saw very small gains on Friday, after a U.S. Federal Reserve official commented March would be too early for interest rate cuts.
Brent crude oil added 19 cents at US$76.80 per barrel, and West Texas Intermediate tacked on 11 cents at US$71.69.
Meanwhile, Bank of Canada governor Tiff Macklem said it’s too soon for the BoC to consider lowering its key interest rates.
The TSX Composite Index dropped 249.55 points on Friday at 20,529.15.
Gold fell US$12.20 at US$2,032.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.28 Farmers Edge Inc. dn $0.005 at $ 0.24 Linamar Corp. dn $ 1.12 at $ 61.70 Maple Leaf Foods dn $ 0.77 at $ 24.50 Nutrien Ltd. dn $ 0.83 at $ 73.53 RB Global Inc. dn $ 2.04 at $ 85.29
(All figures are in Canadian dollars)
