WINNIPEG – The Canadian dollar ended the week at a loss while oil prices resumed their rallies.
The loonie was at US$0.7843 or US$1=C$1.2750 on Friday, down from Thursday’s close of US$0.7896 or US$1=C$1.2664.
The United States Dollar Index was jumped 0.74 of a point to 98.52, the highest level since May 2020. The U.S. Labor Department announced on Friday that 678,000 non-farm payrolls were added in February, bringing the unemployment rate down to 3.8 per cent.
After a reprieve on Thursday, crude oil prices went back to rising at a sharp pace. The U.S. government is considering banning imports of Russian crude oil due to the country’s invasion of Ukraine. Brent crude oil spiked US$7.33 per barrel to US$117.79. West Texas Intermediate (WTI) crude oil rose US$7.41 to US$115.08/barrel. Western Canadian Select (WCS) climbed US$6.27 to US$102.57.
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The TSX/S&P Composite Index added 152.02 points to 21,402.43.
Gold skyrocketed US$34.80 per ounce to US$1,970.70.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.02 at $ 2.50
Farmer’s Edge Inc. dn $ 0.04 at $ 3.22
Linamar Corp. dn $ 3.18 at $ 58.76
Maple Leaf Foods up $ 0.41 at $ 27.88
Nutrien Ltd. up $ 7.19 at $120.92
Ritchie Bros Auctioneers Inc. up $ 1.17 at $ 72.71
(All figures are in Canadian dollars.)
