By MarketsFarm
WINNIPEG, May 16 (MarketsFarm) – The Canadian dollar was steady at market close on Thursday, which saw good news for job growth and increases in crude oil prices.
The dollar finished Wednesday at US$0.7441 or US$1=C$1.3439, which compares with Tuesday’s close of US$0.7434 or C$1.3451.
There were approximately 61,700 jobs created in Canada during April, according to a report from ADP. It was the second consecutive month for the country to see job numbers increase, with about 76,700 jobs created in March.
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Benchmark oil prices made gains on Thursday, largely due to fears of Yemen’s civil war escalating. The pro-Saudi Arabia coalition carried out airstrikes against their pro-Iran opponents on Thursday. The strikes were seen as payback for drone attacks on Saudi oil facilities, which Saudi Arabia accused Iran of carrying out.
Brent crude oil was up 96 cents to close at US$72.73 per barrel on Thursday. West Texas Intermediate (WTI) crude oil gained US$1.05 to close at US$63.07 per barrel. As of yesterday, the price differential between WTI and Western Canadian Select crude oil was US$13.56 per barrel.
The TSX/S&P Composite Index gained 125.72 points on Thursday to finish at 16,443.86 points.
Gold lost US$10.70 on Thursday to close at US$1,287.10 per ounce.
Canada’s agricultural sector fared as follows:
AGT Food and Ingredients unchanged at $ 17.99
Buhler Industries unchanged at $ 3.61
Linamar Corp. dn $ 0.17 at $ 45.32
Maple Leaf Foods dn $ 0.07 at $ 32.18
Nutrien Ltd. dn $ 0.38 at $ 67.38
Ritchie Bros Auctioneers Inc. up $ 0.71 at $ 45.00
Rocky Mountain Dealerships Inc. up $ 0.39 at $ 8.99
(All figures are in Canadian dollars.)
