By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar stabilized on Friday, finishing virtually unchanged.
The loonie closed Friday at US$0.6961 or US$1=1.4365, compared to Thursday’s finish of US$0.6959 or US$1=1.4370. On the U.S. Dollar Index, the greenback dropped 0.612 points at 107.540.
Statistics Canada reported October retail sales grew 0.6 per cent at C$67.6 billion, however that was down from 1.4 per cent in September. StatCan forecast November retail sales to be largely unchanged.
Benchmark crude oil prices were a pinch higher on Friday as the market considered the recent interest rate cut by the U.S. Federal Reserve and China’s lacklustre economy.
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Canadian dollar and business outlook
Glacier FarmMedia — The Canadian dollar was softer relative to its United States counterpart Tuesday morning, with losses in crude…
Brent crude oil tacked on five cents at US$72.93 per barrel and West Texas Intermediate nudged up 13 cents at US$69.51.
The TSX Composite Index closed higher on Friday, recovering a portion of Thursday’s sharp losses. The TSX added 185.54 points to finish at 24,599.48.
Gold advanced US$35.59 at US$2,643.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.95 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 1.34 at $ 57.33 Maple Leaf Foods dn $ 0.17 at $ 20.34 Nutrien Ltd. up $ 0.73 at $ 64.11 RB Global Inc. dn $ 0.66 at $130.06
(All figures are in Canadian dollars)
