WINNIPEG – The Canadian dollar was flat on Thursday as oil prices jumped and the stock market took a plunge.
The loonie was at US$0.7887 or US$1=C$1.2679 on Thursday, up from Wednesday’s close of US$0.7888 or US$1=C$1.2677. The United States Dollar Index declined 0.58 of a point to 95.36.
Benchmark crude oil prices were higher on Thursday amid tensions in Eastern Europe between Russia and Ukraine, as well as reduced oil production in the Permian Basin in Texas due to extreme cold. Brent crude oil rose US$1.47 per barrel to US$90.94. West Texas Intermediate (WTI) crude oil advanced US$1.78 to US$90.04/barrel, the first time WTI broke the US$90 mark since 2014. Western Canadian Select (WCS) crude oil surged US$1.68 at US$76.49/barrel.
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The TSX/S&P Composite Index fell 268.35 points to 21,094.01. Meta, the parent company of Facebook which trades on NASDAQ, lost 25 per cent of its market value, equivalent to a record loss of US$195 billion, in one day due to an underwhelming earnings report.
Gold declined US$3.90 per ounce to US$1,806.40.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 3.06
Farmer’s Edge Inc. dn $ 0.24 at $ 2.26
Linamar Corp. dn $ 0.69 at $ 69.66
Maple Leaf Foods dn $ 0.31 at $ 30.65
Nutrien Ltd. dn $ 2.01 at $ 91.50
Ritchie Bros Auctioneers Inc. dn $ 1.03 at $ 77.38
(All figures are in Canadian dollars.)
