WINNIPEG, Feb. 11 (MarketsFarm) – The Canadian dollar remained virtually unchanged on Thursday as oil and stocks fell due to slightly bearish post-pandemic predictions for the economy.
The loonie finished at US$0.7883 or US$1=C$1.2689, compared to Tuesday’s close of US$0.7881 or US$1=C$1.2686. On the U.S. Dollar Index, the greenback stayed mostly still at 90.410 points.
Benchmark crude oil prices fell on Thursday as cold water was thrown onto speculation of a quick economic recovery in the coming months.
Brent crude oil dropped US$0.61 at US$60.86 per barrel. West Texas Intermediate (WTI) crude oil fell by US$0.69 at US$57.99/barrel. Western Canadian Select (WCS) crude oil pulled back by US$0.26 at US$46.68/barrel.
The TSX Composite Index’s longest rally in more than a year ended on Thursday, decreasing by 64.79 to finish at 18,392.99.
Gold tumbled by US$16.54 at US$1,826.35 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.60
Linamar Corp. up $ 0.66 at $ 72.66
Maple Leaf Foods dn $ 0.50 at $ 24.50
Nutrien Ltd. dn $ 0.37 at $ 69.76
Ritchie Bros Auctioneers Inc. dn $ 0.14 at $ 72.15
(All figures are in Canadian dollars.)
