WINNIPEG – The Canadian dollar had a monthly gain for the first time since May on Friday. However, the loonie weakened from Thursday after new data suggested a slowdown in Canada’s economic recovery.
The loonie was at US$0.8075 or US$1=C$1.2384 on Friday, down from Thursday’s price of US$0.8098 or US$1=C$1.2349. Statistics Canada reported on Friday the nation’s gross domestic product was unchanged in September after only rising 0.4% in August, according to preliminary estimates.
The United States Dollar Index jumped 0.78 of a point to 94.12.
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Benchmark crude oil prices were higher on Friday. Brent crude oil gained six cents per barrel to US$84.38. West Texas Intermediate (WTI) crude oil jumped US$0.56 to US$83.37/barrel. Western Canadian Select (WCS) crude oil increased US$0.50 to US$67.86/barrel.
The TSX/S&P Composite Index lost most of Thursday’s gains, falling 160.46 points to 21,037.07.
Gold tumbled US$16.06 per ounce to US$1,782.85.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.22
Farmer’s Edge Inc. up $ 0.32 at $ 5.37
Linamar Corp. dn $ 0.85 at $ 68.07
Maple Leaf Foods up $ 0.09 at $ 26.98
Nutrien Ltd. dn $ 0.10 at $ 86.50
Ritchie Bros Auctioneers Inc. up $ 0.74 at $ 84.59
(All figures are in Canadian dollars.)
