Canadian Financial Close: Loonie drops more than a half cent

China expands COVID-19 lockdown

By MarketsFarm

WINNIPEG, Jan. 22 (MarketsFarm) – The Canadian dollar was weaker on Friday, due to declines in crude oil.

The dollar finished at US$0.7864 or US$1=C$1.2716, compared to Thursday’s close of US$0.7920 or US$1=C$1.2627.

Benchmark crude oil prices were lower on Friday due to additional pandemic restrictions imposed in China that could impede demand.

Brent crude oil lost 91 cents at US$55.19 per barrel. West Texas Intermediate (WTI) crude oil dropped US$1.06 at US$52.07/barrel. Western Canadian Select (WCS) crude oil fell 95 cents at US$38.06/barrel.

The TSX Composite Index was down 70.29 points on Friday to finish at 17,845.91.

Gold lost US$12.80 at US$1,853.10 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries up $ 0.01 at $ 2.66
Linamar Corp. dn $ 0.27 at $ 73.44
Maple Leaf Foods unchanged at $ 25.86
Nutrien Ltd. dn $ 1.16 at $ 67.06
Ritchie Bros Auctioneers Inc. up $ 0.89 at $ 80.23
(All figures are in Canadian dollars.)

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