By MarketsFarm
WINNIPEG, May 22 (MarketsFarm) – The Canadian dollar was weaker on Friday, due to relative strength in the United States dollar and losses in the crude oil sector.
The dollar finished the day at US$0.7135 or US$1=C$1.4015, compared to Thursday when it closed at US$0.7176 or US$1=C$1.3935.
Stock indices were mostly higher on Friday, with gains driven by optimism that economies will bounce back from COVID-19 lockdowns. The TSX Composite Index was up 28.79 points to close at 14,913.64. The S&P 500 gained 6.94 points to close at 2,955.45. The Dow Jones Industrial Average was down by 8.94 points at 24,465.16. The NASDAQ increased 39.71 to finish at 9,324.59.
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Benchmark crude oil prices were slightly weaker, due to concerns regarding tension between China and the U.S. West Texas Intermediate (WTI) was down 54 cents to close at US$33.38. Brent Crude was down by 89 cents at US$35.17.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 2.60
Linamar Corp. dn $ 1.52 at $ 34.91
Maple Leaf Foods dn $ 0.20 at $ 25.61
Nutrien Ltd. up $ 0.55 at $ 46.04
Ritchie Bros Auctioneers Inc. dn $ 0.03 at $ 55.91
Rocky Mountain Dealerships Inc. up $ 0.05 at $ 4.40
(All figures are in Canadian dollars.)
