WINNIPEG – The Canadian dollar moved upward on Friday after the release of a report from Statistics Canada (StatCan).
The loonie closed at US$0.7766 or US$1=C$1.2876, up from US$0.7755 or US$1=C$1.2895 on Thursday. The central data agency reported on Friday that retail sales were 2.2 per cent higher in May to C$62.2 billion. StatCan had previously estimated a rise of 1.6 per cent for May. It also projects a 0.3 per cent gain in retail sales for the month of June.
The United States Dollar Index was down 0.32 of a point to 106.59.
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Crude oil prices were somewhat lower on Friday amid declining demand and a slowdown along TC Energy’s Keystone pipeline, which runs from the Alberta oil sands to Oklahoma. Brent crude oil eased off US$0.68 per barrel at US$103.18. West Texas Intermediate (WTI) crude oil fell US$1.71 at US$94.64/barrel. Western Canadian Select (WCS) subtracted US$1.80 per barrel to US$74.16.
The TSX/S&P Composite Index lost 79.93 points at 18,982.92.
Gold gained US$7.80 at US$1,721.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.39
Farmer’s Edge Inc. dn $ 0.01 at $ 1.49
Linamar Corp. dn $ 0.25 at $ 57.92
Maple Leaf Foods up $ 0.08 at $ 26.43
Nutrien Ltd. dn $ 0.81 at $101.17
Ritchie Bros Auctioneers Inc. up $ 1.84 at $ 89.40
(All figures are in Canadian dollars.)
