Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Apri1 1 (MarketsFarm) – The Canadian dollar was relatively steady on Thursday, despite a decline in the United States dollar and increases in crude oil prices.
The loonie finished at US$0.7959 or US$1=C$1.2565, compared to Wednesday’s close of US$0.7952 or US$1=C$1.2575.
On the U.S. Dollar Index, the greenback retreated under 93 points, losing 0.311 at 92.925.
Benchmark crude oil prices were stronger on Thursday, after OPEC+ agreed to increase crude oil production by two million barrels per day from May to July. The 23-country alliance has banked on a global economy recovery from the COVID-19 pandemic during the summer months to boost demand.
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Brent crude oil rose US$1.90 at US$64.64 per barrel. West Texas Intermediate (WTI) crude oil climbed US$2.12 at US$61.28/barrel. Western Canadian Select (WCS) jumped US$2.46 at US$51.36/barrel.
The TSX Composite Index gained 289.65 points on Thursday to finish at 18,990.32.
Gold was up US$14.50 at US$1,730.10 per ounce.
The markets will be closed tomorrow for the Good Friday holiday.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.06 at $ 3.25
Farmers Edge Inc. dn $ 0.37 at $ 17.85
Linamar Corp. up $ 1.32 at $ 75.41
Maple Leaf Foods dn $ 0.50 at $ 28.15
Nutrien Ltd. up $ 0.72 at $ 68.42
Ritchie Bros Auctioneers Inc. up $ 2.20 at $ 75.78
(All figures are in Canadian dollars.)
