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Canadian Financial Close: C$ edges down ahead of weekend

WINNIPEG, May 29 (MarketsFarm) – The Canadian dollar was slightly weaker on Friday, seeing some consolidation to end the week after posting sharp gains relative to its United States counterpart in recent sessions.
The Canadian dollar closed at US$0.7253 or US$1=C$1.3787, which compares with Thursday’s North American close of US$0.7265 or US$1=C$1.3764.
Canada’s gross domestic product dropped at an annualized rate of 8.2 per cent in the first quarter of 2020, according to a report from Statistics Canada. The declines was the largest since 2009, but was not quite as large as many economists had predicted.

COVID-19 social distancing measures only started to be implemented at the tail end of the first quarter, and even larger losses are expected in the second quarter.
The Bank of Canada makes its latest interest rate decision on June 3, with average trade guesses calling for the Bank to hold steady at 0.25 per cent.
The TSX Composite Index was weaker, losing 69.90 points, or 0.46 per cent, to close at 15,192.83 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————- $ 0.00 at $ 2.49
Linamar Corp.——————–dn $ 0.39 at $ 38.24
Maple Leaf Foods—————–up $ 0.01 at $ 26.39
Nutrien Ltd.———————dn $ 0.45 at $ 47.00
Ritchie Bros Auctioneers Inc.—-up $ 0.67 at $ 59.59
Rocky Mountain Dealerships Inc.–dn $ 0.03 at $ 4.47

(All figures are in Canadian dollars.)

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