WINNIPEG – The Canadian dollar ended the week on a low note on Friday in sympathy with falling crude oil prices.
The loonie was at US$0.7912 or US$1=C$1.2639 on Friday, down from Thursday’s close of US$0.7927 or US$1=C$1.2615. The weakness in the currency came despite solid domestic data, as Statistics Canada reported on Friday retail sales increased by one per cent in October.
The United States Dollar Index was up 0.49 of a point to 96.03. On Friday morning, the U.S. House of Representatives narrowly passed a US$1.75 trillion social spending and climate bill after an overnight filibuster by Republican Minority House Leader Kevin McCarthy.
Read Also
Canadian Financial Close: More declines for loonie
By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar fell back further on Wednesday, as the Bank…
Benchmark crude oil prices were in a freefall on Friday due to new COVID-19 restrictions in Europe and the possibility of the U.S. and China releasing strategic oil reserves. Brent crude oil lost US$2.84 per barrel to US$78.40. West Texas Intermediate (WTI) crude oil declined US$2.91 to US$76.10/barrel. Western Canadian Select (WCS) crude oil plunged US$3.85 to US$56.63/barrel.
The TSX/S&P Composite Index retreated 82.51 points to 21,555.03.
Gold tumbled US$12.03 per ounce to US$1,846.92.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.02
Farmer’s Edge Inc. dn $ 0.13 at $ 3.47
Linamar Corp. dn $ 0.14 at $ 78.44
Maple Leaf Foods dn $ 0.19 at $ 30.52
Nutrien Ltd. dn $ 1.10 at $ 85.88
Ritchie Bros Auctioneers Inc. up $ 0.34 at $ 92.00
(All figures are in Canadian dollars.)
