By MarketsFarm
WINNIPEG, Feb. 5 (MarketsFarm) – The Canadian dollar was relatively firm at market close on Thursday, lagging behind gains in crude oil prices.
The loonie finished the day at US$0.7525 or US$1=C$1.3289, which compares with Wednesday’s close of US$0.7531 or C$1.3278.
Benchmark crude oil prices were stronger on Wednesday, due to reports that scientists were developing a vaccine for the coronavirus.
Brent crude oil rose US$1.52 at US$55.48 per barrel. West Texas Intermediate (WTI) gained US$1.46 at US$51.07 per barrel. Western Canadian Select (WCS) jumped US$2.03 to close at US$33.35 per barrel.
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The stock markets in the United States were stronger for the same reason, with the Dow Jones climbing 483.22 to close at 29,290.85 points. The NASDAQ gained 40.71 to finish at 9,508.58, and the S&P 500 was up 37.10 to end the day at 3,334.69 points.
In Canada, the TSX/S&P Composite Index increased by 138.86 on Wednesday to close at 17,651.59 points.
Gold gained US$3.93 on Wednesday to close at US$1,556.85 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.09 at $ 2.89
Linamar Corp. up $ 1.20 at $ 45.09
Maple Leaf Foods up $ 0.04 at $ 25.94
Nutrien Ltd. up $ 1.94 at $ 58.92
Ritchie Bros Auctioneers Inc. up $ 0.82 at $ 55.94
Rocky Mountain Dealerships Inc. up $ 0.24 at $ 6.75
(All figures are in Canadian dollars.)
