WINNIPEG – The Canadian dollar hit a new low for the calendar year due to a stronger United States greenback and declines in crude oil prices.
The loonie closed at US$0.7595 or US$1=C$1.3166, down from US$0.7627 or US$1=C$1.3111 on Wednesday. This is the first time the Canadian dollar closed below 76 United States cents since Nov. 13, 2020. The U.S. Dollar Index jumped 0.98 of a point to 109.68, setting a new 52-week high.
Crude oil prices were still in a downturn due to demand concerns. Brent crude oil fell US$3.69 per barrel to US$91.95. West Texas Intermediate (WTI) crude oil dropped US$3.29 at US$86.26/barrel. Western Canadian Select (WCS) lost US$3.51 per barrel to US$65.38.
The TSX/S&P Composite Index suffered another triple-digit loss, shedding 188.09 points at 19,142.72.
Gold tumbled US$19.70 at US$1,706.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.17 at $ 2.09
Farmer’s Edge Inc. unchanged at $ 0.60
Linamar Corp. up $ 0.16 at $ 62.25
Maple Leaf Foods dn $ 0.10 at $ 23.07
Nutrien Ltd. dn $ 2.49 at $118.08
Ritchie Bros Auctioneers Inc. up $ 1.30 at $ 92.28
(All figures are in Canadian dollars.)
