Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 20 (MarketsFarm) – The Canadian dollar gained just over two-tenths of a cent on Thursday, as the United States dollar lost more ground and despite declines in crude oil prices.
The loonie finished at US$0.8285 or US$1=C$1.2070, compared to Wednesday’s close of US$0.8264 or US$1=C$1.2100.
On the U.S. Dollar Index, the greenback retreated 0.436 finishing at 89.755 points.
Bank of Canada Governor Tiff Macklem issued a warning on Thursday to homeowners to avoid taking on excessive mortgage debt as interest lows won’t remain at historic lows.
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Benchmark crude oil prices pulled back on Thursday, as U.S. economic sanctions against Iran could soon be eased, allowing the latter to sell more crude on the global market.
Brent crude oil fell US$1.72 at US$64.94 per barrel. West Texas Intermediate (WTI) crude oil dropped US$1.31 at US$62.05/barrel. Western Canadian Select (WCS) was down US$1.13 at US$47.43/barrel.
The TSX Composite Index gained 125.92 points on Thursday to finish at 19,542.95.
Gold slipped US$4.30 at US$1,877.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.63
Farmers Edge Inc. dn $ 0.35 at $ 10.25
Linamar Corp. up $ 0.69 at $ 74.08
Maple Leaf Foods up $ 0.07 at $ 26.66
Nutrien Ltd. dn $ 0.34 at $ 72.21
Ritchie Bros Auctioneers Inc. up $ 0.13 at $ 73.74
(All figures are in Canadian dollars.)
