WINNIPEG – The Canadian dollar held steady on Friday after a survey showed that consumer sentiment in the United States had plummeted.
The loonie was at US$0.7991 or US$1=C$1.2514 on Friday, compared to Thursday’s close at US$0.7987 or US$1=C$1.2520. The University of Michigan revealed that its preliminary consumer sentiment index dropped to 70.2 in early August, the lowest value in a decade, compared to 81.2 in July.
The United States Dollar Index tumbled 0.52 points at 92.52.
Benchmark crude oil prices continued its downward slide on Friday. Brent crude oil slipped US$1.17 per barrel to US$70.14. West Texas Intermediate (WTI) crude oil dropped US$1.18 to US$67.91/barrel. Western Canadian Select (WCS) crude oil declined US$0.39 to US$55.23/barrel.
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The TSX/S&P Composite Index was flat, dipping 2.53 points to 20.518.07.
After the consumer sentiment index was released, U.S. Treasury bond yields fell, which bolstered gold US$25.13 per ounce to US$1,778.04.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.99
Farmer’s Edge Inc. dn $ 5.08 at $ 4.42
Linamar Corp. dn $ 1.44 at $ 73.08
Maple Leaf Foods up $ 0.19 at $ 26.47
Nutrien Ltd. dn $ 0.07 at $ 79.63
Ritchie Bros Auctioneers Inc. up $ 0.01 at $ 77.00
(All figures are in Canadian dollars.)
