By MarketsFarm
WINNIPEG, Nov. 6 (MarketsFarm) – The Canadian dollar was virtually unchanged on Friday. Sluggish job recovery numbers and lower crude oil prices weighed on values, but they were countered by a lower United States dollar which provided support.
The loonie finished at US$0.7669 or US$=C$1.3039 compared to Thursday’s close of US$0.7667 or US$1=C$1.3051.
Statistics Canada reported that 83,600 jobs were created in October, far fewer than what analysts had expected. The surge in COVID-19 cases in Canada was at the heart of the findings.
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The U.S. Dollar Index pulled back 0.261 for the greenback to stand at 92.255 points, making it weaker against other major world currencies.
Benchmark crude oil prices were lower on Friday, as the rising number of reported cases of COVID-19 globally has generated fears in the market of sharp declines in demand. The continuing count in the United States presidential election has kept the oil market on edge.
Brent crude oil dropped US$1.22 at US$39.71 per barrel. West Texas Intermediate (WTI) crude oil fell US$1.38 at US$37.41 per barrel. Western Canadian Select (WCS) crude was down 71 cents at US$27.98 per barrel.
The TSX Composite Index slipped 15.34 points to finish at 16,282.83.
Gold was up US$2.34 at US$1,952.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.25
Maple Leaf Foods dn $ 0.09 at $ 25.14
Nutrien Ltd. dn $ 0.76 at $ 51.91
Ritchie Bros Auctioneers Inc. up $ 8.96 at $ 98.31
Rocky Mountain Dealerships Inc. up $ 0.01 at $ 6.96
(All figures are in Canadian dollars.)
