By MarketsFarm
WINNIPEG, April 16 (MarketsFarm) – The Canadian dollar was slightly lower on Thursday as North American crude oil prices remained weak.
The dollar finished the day at US$0.7081 or US$1=C$1.4122, compared to Wednesday when it closed at US$0.7099 or US$1=C$1.4086.
Benchmark crude oil prices trade either side of steady on Thursday. The possibility that some COVID-19 restrictions in Europe could be lifted in the near future provided support for oil. However, burgeoning global stocks remained a looming threat to any gains.
Brent crude oil gained 48 cents to close at US$28.17 per barrel. West Texas Intermediate crude oil lost 31 cents at US$19.56 per barrel, which marked a 20-year low. Western Canadian Select was down 24 cents at US$7.24 per barrel.
The TSX Composite Index slipped 59.26 points to close at 13,899.32.
Gold was up US$1.38 at 1,718.41 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.70
Linamar Corp. dn $ 0.37 at $ 31.92
Maple Leaf Foods dn $ 0.64 at $ 24.38
Nutrien Ltd. dn $ 0.61 at $ 48.21
Ritchie Bros Auctioneers Inc. up $ 1.19 at $ 55.71
Rocky Mountain Dealerships Inc. up $ 0.08 at $ 4.22
(All figures are in Canadian dollars.)
