WINNIPEG, April 5 (MarketsFarm) – The Canadian dollar continued to drop on Friday, as stock indexes remained high.
The Canadian dollar closed at US$.7470 or US$1=C$1.3386, down from Thursday’s close of US$.7487 or US$1=C$1.3357.
The S&P/TSX Composite Index gained 84.54 points to close at 16,396.15.
The NASDAQ closed up, gaining 46.91 at 7,938.69 points. Similarly, The Dow Jones gained 40.36 points to close at 26,424.99. The S&P 500 Index was up 13.35 points, closing at 2,892.74 points.
Stock indexes closed the week on a high following a stronger-than-expected March jobs report from the United States Bureau of Labor Statistics. The U.S. economy added 196,000 jobs in March, while economists were expecting 175,000, according to Yahoo Finance.
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Meanwhile, the Canadian economy lost 7,200 jobs in March, the first decline in over six months. However, the unemployment rate held steady at 5.8 per cent. “We got a little dip in employment, but the numbers are volatile and it’s been on a pretty strong run over the prior half year,” said Nathan Janzen, senior economist at Royal Bank of Canada, to Reuters.
Oil prices remain around $70 per barrel amongst positive trade talks between the U.S. and China. West Texas International gained US$1.19 to trade at US$63.29 per barrel, and Brent Crude gained US$1.05 to trade at US$70.45 per barrel.
Canada’s agricultural sector fared as follows:
AGT Food and Ingredients——-up $ 0.05 at $ 17.94
Buhler Industries————–dn $ 0.04 at $ 3.57
Linamar Corp ——————up $ 0.85 at $ 50.62
Maple Leaf Foods—————up $ 0.61 at $ 30.93
Nutrien Ltd. ——————dn $ 0.21 at $ 72.52
Rocky Mountain Dealership Inc.-up $ 0.05 at $ 9.21
(All figures are in Canadian dollars.)
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