WINNIPEG – The Canadian dollar found itself closer to the 80 cent United States mark on Friday due to an underwhelming U.S. jobs report.
The loonie was at US$0.7988 or US$1=C$1.2518 on Friday, compared to Thursday’s close at US$0.7954 or US$1=C$1.2573. The U.S. Labor Department reported only 235,000 new jobs in August compared to 1.05 million in July due to the spread of the COVID-19 Delta variant.
The United States Dollar Index was down 0.10 of a point at 92.12.
Benchmark crude oil prices underwent corrections on Friday after consecutive days of gains. Brent crude oil dipped US$0.45 per barrel to US$72.58. West Texas Intermediate (WTI) crude oil dropped US$0.74 to US$69.25/barrel. Meanwhile, Western Canadian Select (WCS) crude oil lost US$0.53 to US$57.25/barrel.
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The TSX/S&P Composite Index increased 26.31 points at 20,821.43, another record close.
Due to the job report and no tapering down of bond-buying in sight, gold surged US$18.54 per ounce to US$1,828.21.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 3.23
Farmer’s Edge Inc. dn $ 0.20 at $ 5.22
Linamar Corp. dn $ 0.02 at $ 71.76
Maple Leaf Foods dn $ 0.29 at $ 27.14
Nutrien Ltd. dn $ 0.79 at $ 76.60
Ritchie Bros Auctioneers Inc. dn $ 1.67 at $ 78.82
(All figures are in Canadian dollars.)
