WINNIPEG – The Canadian dollar ended the week on a high note hours after the release of economic data from Statistics Canada (StatCan).
The loonie closed at US$0.7448 or US$1=C$1.3427 on Friday for its biggest one-day gain in four months, compared to US$0.7371 or US$1=C$1.3566 on Thursday. StatCan reported on Friday that the country’s economy added 41,000 jobs in April, most of which were part-time.
The United States Dollar Index declined 0.12 of a point at 101.28. The U.S. Labor Department reported on Friday that 253,000 jobs were added in April, beating previous estimates of 180,000.
Read Also
Canadian Dollar and Business Outlook: Loonie up, gold surges
Glacier FarmMedia | MarketsFarm – The Canadian dollar moved above the 73 United States cent mark on Monday morning. The loonie…
Crude oil made a big jump on Friday, but still ended the week with a loss. Brent crude oil surged US$2.78 per barrel at US$75.28. Meanwhile, West Texas Intermediate (WTI) advanced US$2.78 at US$71.34/barrel.
The TSX/S&P Composite Index had a strong day, rising 303.84 points to 20,542.03 due to rallies in energy, base metals and technology sectors.
Gold lost US$30.30 at US$2,025.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.22 at $ 2.05
Farmer’s Edge Inc. unchanged at $ 0.18
Linamar Corp. up $ 1.51 at $ 64.59
Maple Leaf Foods up $ 0.26 at $ 27.37
Nutrien Ltd. up $ 1.42 at $ 87.03
Ritchie Bros Auctioneers Inc. up $ 0.64 at $ 76.14
(All figures are in Canadian dollars.)
