Canadian Financial Close: C$ rallies into weekend

Your Reading List

By MarketsFarm

WINNIPEG, Nov. 4 (MarketsFarm) – The Canadian dollar was sharply stronger on Friday, as a rally in crude oil and solid jobs data provided support.
The Canadian dollar settled at US$0.7398 or US$1=C$1.3517 on Friday, which compares with Thursday’s close of US$0.7273 or US$1=C$1.3749.
Canada’s economy added 108,000 jobs in October, with the unemployment rate holding steady at 5.2 per cent as the labour participation rate also increased, according to a report from Statistics Canada. The jobs data beat average pre-report expectations for a much more modest jobs increase.

Canadian Financial Close: C$ steady Friday

Glacier FarmMedia — The Canadian dollar held steady on Friday as investors squared positions ahead of the weekend. The Canadian…

United States employment data saw non-farm payrolls increase by 261,000 in October, also beating expectations. However, the unemployment rate increased to 3.7 per cent, from 3.5 per cent, as participation in the labour force dipped slightly.
Crude oil climbed higher on ideas China may be looking to ease its strict COVID-19 restrictions, with West Texas Intermediate crude oil up by 5.1 per cent at US$92.64 per barrel.
The TSX Composite Index was stronger, up 208.59 points or 1.08 per cent to close at 19,449.81 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.00
Linamar Corp.——————–up $ 1.57 at $ 59.67
Maple Leaf Foods—————–dn $ 0.38 at $ 19.78
Nutrien Ltd.———————up $ 0.86 at $ 98.79
Ritchie Bros Auctioneers Inc.—-dn $ 1.31 at $ 84.07
Farmers Edge Inc.—————- $ 0.00 at $ 0.42

(All figures are in Canadian dollars.)

About the author