WINNIPEG, Feb. 12 (MarketsFarm) – The Canadian dollar tumbled on Friday as oil prices returned to the upward movement they had previously seen over the past week.
The loonie finished at US$0.7867 or US$1=C$1.2711, compared to Thursday’s close of US$0.7883 or US$1=C$1.2686. On the U.S. Dollar Index, the greenback stayed mostly still at 90.440 points.
After falling on Thursday, benchmark crude oil prices rose on Friday as global oil inventories continue to be depleted in the face of production cuts and predictions of greater demand later this year.
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Brent crude oil rallied by US$1.45 at US$62.59 per barrel. West Texas Intermediate (WTI) crude oil increased by US$1.37 at US$59.61/barrel. Western Canadian Select (WCS) crude oil advanced by US$0.87 at US$47.55/barrel.
The TSX Composite Index regained its rise on Friday after falling on Thursday, moving up by 67.22 to end the week at 18,460.21.
Gold decreased by US$3.05 at US$1,822.56 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.11 at $ 2.71
Linamar Corp. dn $ 0.72 at $ 71.94
Maple Leaf Foods dn $ 0.17 at $ 24.33
Nutrien Ltd. up $ 1.34 at $ 71.10
Ritchie Bros Auctioneers Inc. up $ 1.58 at $ 73.73
(All figures are in Canadian dollars.)
