Canadian Financial Close: Loonie climbs a little

Unemployment down four-tenths of a percentage

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, Sept. 10 (MarketsFarm) – The Canadian dollar was slightly higher on Friday, due to a positive jobs report from Statistics Canada and as crude oil prices improved.

The loonie closed at US$0.7917 or US$1=C$1.2631, compared to Thursday’s close of US$0.7903 or US$1=C$1.2654.

The federal data agency reported a net gain of about 90,000 jobs in August, which reduced unemployment in Canada from 7.5 per cent to 7.1.

Benchmark crude oil prices were higher on Friday, as tensions reduced between the U.S. and China following a telephone conversation between their leaders.

Brent crude oil increased US$1.32 at US$72.77 per barrel. West Texas Intermediate (WTI) crude oil rose US$1.43 at US$69.57 per barrel. Western Canadian Select (WCS) gained US$1.86 at US$57.90 per barrel.

Further improvements in the loonie were tempered by gains in the United States dollar. The U.S. Dollar Index saw greenback bump up 0.141 to 92.620 points.

The TSX Composite Index pulled back 72.21 points on Friday at 20,633.06.

Gold lost US$11.20 at US$1,788.80 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.23
Farmers Edge Inc. dn $ 0.04 at $ 4.91
Linamar Corp. dn $ 0.23 at $ 69.80
Maple Leaf Foods up $ 0.46 at $ 27.19
Nutrien Ltd. dn $ 0.71 at $ 78.56
Ritchie Bros Auctioneers Inc. up $ 1.09 at $ 82.31
(All figures are in Canadian dollars.)

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