Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 23 (MarketsFarm) – The Canadian dollar was a pinch higher on Friday, due to a weaker United States dollar and increases in crude oil prices.
The loonie was at US$0.8007 or US$1=C$1.2489, compared to Thursday’s close of US$0.8000 or US$1=C$1.2500.
On the U.S. Dollar Index, the greenback dropped 0.506 at 90.815 points.
Benchmark crude oil prices were higher on Friday getting support by the U.S. economic recovery and the easing of pandemic lockdowns in Europe. However, the surge of global cases of COVID-19, especially in India, tempered those price increases.
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Brent crude oil rose 71 cents at US$66.11 per barrel. West Texas Intermediate (WTI) crude oil also gained 71 cents at US$62.14/barrel. Western Canadian Select (WCS) was up 60 cents at US$50.24/barrel.
The TSX Composite Index increased 70.69 points on Friday to finish at 19,102.33.
Gold was down US$5.70 at US$1,776.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.57
Farmers Edge Inc. dn $ 0.83 at $ 17.02
Linamar Corp. up $ 1.77 at $ 75.25
Maple Leaf Foods dn $ 0.54 at $ 28.15
Nutrien Ltd. dn $ 0.06 at $ 67.13
Ritchie Bros Auctioneers Inc. up $ 1.08 at $ 78.83
(All figures are in Canadian dollars.)
