WINNIPEG – The Canadian dollar closed above the 80-cent U.S. mark on Friday after the release of welcome jobs data from Statistics Canada.
The loonie was at US$0.8015 or US$1=C$1.2476 on Friday, up from Thursday’s close at US$0.7974 or US$1=C$1.2540. Meanwhile, the United States Dollar Index was down 0.31 points at 92.11. Earlier on Friday, Statistics Canada announced that 231,000 jobs were created during the month of June, which could influence the tapering off of the Bank of Canada’s bond-buying program.
With tightening supply in the U.S. and uncertainty over future output, benchmark crude oil prices surged on Friday. Brent crude oil jumped US$1.47 per barrel to US$75.59. West Texas Intermediate (WTI) crude oil gained US$1.71 to US$74.65/barrel. Western Canadian Select (WCS) crude oil spiked US$1.72 to US$61.84/barrel.
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The TSX Composite Index rebounded from its worst day since February yesterday by making up 196.74 points to 20,257.95.
Gold increased US$5.48 per ounce to US$1,808.32.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.30
Farmer’s Edge Inc. dn $ 0.06 at $ 11.99
Linamar Corp. up $ 0.85 at $ 75.04
Maple Leaf Foods dn $ 0.10 at $ 25.05
Nutrien Ltd. up $ 1.64 at $ 76.22
Ritchie Bros Auctioneers Inc. up $ 0.32 at $ 74.32
(All figures are in Canadian dollars.)
