WINNIPEG – The Canadian dollar was lower on Friday after the release of mixed jobs data from Statistics Canada.
The loonie closed at US$0.7763 or US$1=C$1.2882, down from US$0.7799 or US$1=C$1.2822 on Thursday. Canada’s central data agency reported that 15,300 jobs were added in April, despite economists’ pre-report estimates at around 40,000. However, the unemployment rate declined to 5.2 per cent, the lowest since 1976.
The United States Dollar Index shed 0.10 of a point at 103.66. The U.S. added 428,000 jobs in April, exceeding expectations, but the unemployment rate was unchanged at 3.6 per cent.
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Crude oil prices were higher over supply concerns days after the European Union made clear its intent to phase out Russian oil by the end of 2022. Brent crude oil gained US$2.14 per barrel at US$113.04. West Texas Intermediate (WTI) crude oil increased US$2.30 at US$110.56/barrel. Western Canadian Select (WCS) moved up US$1.52 to US$96.41.
The TSX/S&P Composite Index subtracted 62.89 points at 20,633.28.
Gold advanced US$7.30 per ounce to US$1,883.00.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.55
Farmer’s Edge Inc. up $ 0.20 at $ 2.60
Linamar Corp. up $ 0.44 at $ 49.48
Maple Leaf Foods dn $ 0.02 at $ 27.18
Nutrien Ltd. up $ 0.84 at $133.68
Ritchie Bros Auctioneers Inc. dn $ 0.21 at $ 67.42
(All figures are in Canadian dollars.)
