Canadian Financial Close: Dollar remains in a slump

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Published: March 12, 2020

By MarketsFarm

WINNIPEG, March 12 (MarketsFarm) – The Canadian dollar was weaker again on Thursday, as financial markets continued their tailspin due to the far-reaching economic impact of the COVID-19 coronvirus.

The dollar finished the day at US$0.7236 or US$1=C$1.3820, compared to Wednesday when it closed at US$0.7275 or US$1=C$1.3745.

The financial market posted their largest losses in decades despite the United States Federal Reserve injecting US$500 billion into financial markets.

The TSX Composite Index lost over 12 per cent, down by 1,761.64 to close at 12,508.45. The S&P 500 was down by nearly 10 per cent, decreasing by 260.74 to close at 2,480.64. The Dow Jones also lost nearly 10 per cent, down by 2,352.60 points at 21,200.62. The NASDAQ was down 750.25 to finish at 7,201.80.

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Brent crude oil was down by US$2.94 to close at US$32.85 per barrel. West Texas Intermediate (WTI) crude oil lost US$2.14 to close at US$30.84 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries unch at $ 2.85
Linamar Corp. up $ 1.12 at $ 30.30
Maple Leaf Foods dn $ 0.92 at $ 20.51
Nutrien Ltd. dn $ 5.12 at $ 38.89
Ritchie Bros Auctioneers Inc. dn $ 5.36 at $ 45.79
Rocky Mountain Dealerships Inc. dn $ 1.72 at $ 4.02

(All figures are in Canadian dollars.)

END

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