Your Reading List

Reading Time: 2 minutes

Published: March 7, 2019

Canadian Financial Close: Comments from central banks see Loonie, markets slip

By Markets Farm

WINNIPEG, March 7 (MarketsFarm) – The Canadian dollar was down at market close on Thursday, following comments from the Deputy Governor of the Bank of Canada.

The dollar finished Thursday at US$0.7442 or US$1=C$1.3438, which compares with Wednesday’s close of US$0.7452 or C$1.3420.

Canada’s economy will not pick up during the first half of 2019, according to Bank of Canada Deputy Governor Lynn Patterson in a speech on Thursday. She stated improved growth in the Canadian economy likely won’t happen until sometime later this year.

Read Also

Canadian Dollar and Business Outlook: Loonie rises, crude oil retreats

Glacier FarmMedia | MarketsFarm – The Canadian dollar showed strength for the second straight day on Tuesday. The loonie was…

A move by the European Central Bank to freeze interest rates in the European Union until 2020 was felt across the Atlantic Ocean on Thursday. The bank dropped its projection of economic growth in the EU to 1.1 per cent today, less than half of what it projected a year ago.

The TSX was down 35.56 points to finish Thursday at 16,092.07 points.

In the Unites States, the Dow Jones dropped 200.23 points to end trading at 25,473.23 points. The NASDAQ fell 84.46 points to close at 7,421.46. The S&P 500 lost 22.52 points to end the day at 2,748.93 points.

Benchmark oil prices were up Thursday as OPEC production cuts were felt on the markets. Brent crude oil rose 12 cents to close at US$66.11 per barrel. West Texas Intermediate crude oil gained 32 cents to close at US$56.54 per barrel.

Gold was down US$1.50 on Thursday to US$1,286.10 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients up $ 0.02 at $ 17.80
Buhler Industries unchanged at $ 3.61
Linamar Corp. dn $ 0.49 at $ 50.72
Maple Leaf Foods dn $ 0.12 at $ 27.51
Nutrien Ltd. dn $ 1.94 at $ 70.74
Ritchie Bros Auctioneers Inc. dn $ 0.35 at $ 45.49
Rocky Mountain Dealerships Inc. up $ 0.04 at $ 8.69

(All figures are in Canadian dollars.)

About the author

GFM Network News

GFM Network News

Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

explore

Stories from our other publications