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Canadian Financial Close: Loonie eases on retail sales

By MarketsFarm

WINNIPEG, Sept. 20 (MarketsFarm) – The Canadian dollar was weaker at market close on Friday following a lacklustre retail sales report.

The loonie finished the day at US$0.7533 or US$1=C$1.3275, which compares with Thursday’s close of US$0.7542 or C$1.3259.

Statistics Canada reported today that July’s retail sales increased by 0.4 per cent. If vehicle and fuel sales are taken out, then there was a 0.1 per cent decrease.

Benchmark oil prices were mixed on Friday with continuing Middle East tensions providing support and the current state of United States/China trade talks weighing on values.

Brent crude oil up 20 cents to close at US$64.60 per barrel. West Texas Intermediate (WTI) crude oil was down four cents to close at US$58.09 per barrel. Western Canadian Select (WCS) crude oil inched upward six cents at US$45.39 per barrel.

The TSX/S&P Composite Index was up 37.48 points on Friday to close at 16,695.83 on gains in resource stocks.

In the U.S., stocks were down because of the sour note U.S./China trade talks ended on. President Donald Trump stated that an interim deal is now off the table ahead of top-level negotiations next month. As well, Trump remarked a deal is unnecessary before the 2020 U.S. elections.

The Dow Jones lost 160.33 points to wrap up the week at 26,934.46 points. The NASDAQ was down 65.21 to end at 8,117.67, while the S&P 500 slipped 14.81 to stop at 2,991.98 points.

Gold was up US$17.60 on Friday to close at US$1,523.80 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.04 at $ 3.71
Linamar Corp. up $ 0.22 at $ 43.78
Maple Leaf Foods up $ 0.06 at $ 30.64
Nutrien Ltd. dn $ 0.61 at $ 68.47

Ritchie Bros Auctioneers Inc. dn $ 0.11 at $ 50.69
Rocky Mountain Dealerships Inc. dn $ 0.16 at $ 7.01
(All figures are in Canadian dollars.)

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Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

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