By MarketsFarm
WINNIPEG, Aug. 27 (MarketsFarm) – The Canadian dollar closed slightly higher on Thursday, as it continues to benefit from a weak United States dollar.
The Canadian dollar finished at US$0.7617 or US$1=C$1.3129, compared to Wednesday when it closed at US$0.7602 or US$1=C$1.3155.
The greenback hovered around 93.00 points on the U.S. Dollar Index, as it’s unable to gain traction against other major world currencies.
Benchmark crude oil prices were slightly lower on Thursday, as U.S. production is widely expected to resume following Hurricane Laura. Nearly 85 per cent of U.S. oil production facilities in the Gulf of Mexico were shuttered ahead of Laura. The region provides 17 per cent of the country’s oil requirements.
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Brent crude oil lost 54 cents at US$45.10 per barrel. West Texas Intermediate (WTI) crude oil was down 40 cents at US$42.99 per barrel. Western Canadian Select (WCS) crude oil slipped 13 cents at US$31.50 per barrel.
The TSX Composite Index was down 58.48 on Thursday, to finish at 16,789.97 points.
Gold dropped US$25.94 at US$1,928.52 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.59
Linamar Corp. dn $ 0.58 at $ 41.26
Maple Leaf Foods dn $ 0.26 at $ 29.60
Nutrien Ltd. dn $ 0.95 at $ 49.14
Ritchie Bros Auctioneers Inc. dn $ 1.10 at $ 79.28
Rocky Mountain Dealerships Inc. up $ 0.03 at $ 5.80
(All figures are in Canadian dollars.)
