WINNIPEG – The Canadian dollar fell back on Friday, hitting its lowest point in five weeks.
The loonie was at US$0.7959 or US$1=C$1.2565 on Friday, down from Wednesday’s close of US$0.8031 or US$1=C$1.2452. The Bank of Canada did not post exchange rates on Thursday due to Remembrance Day.
The U.S. Dollar Index dipped 0.07 of a point to 95.11. Largely due to rising inflation, consumer sentiment in the country fell to a 10-year low of 66.8 points in October, down 4.9 from September, according to the University of Michigan’s index.
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Benchmark crude oil prices continued to decline on Friday thanks to a rising U.S. dollar. Brent crude oil dipped US$0.73 per barrel to US$82.14. West Texas Intermediate (WTI) crude oil slipped US$0.75 to US$80.84/barrel. Meanwhile, Western Canadian Select (WCS) crude oil increased US$0.16 to US$60.87/barrel.
The TSX/S&P Composite Index gained 186.55 points to 21,768.53.
Gold advanced US$2.29 per ounce to US$1,864.40.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.21
Farmer’s Edge Inc. dn $ 0.96 at $ 3.80
Linamar Corp. dn $ 0.25 at $ 76.50
Maple Leaf Foods up $ 0.21 at $ 31.05
Nutrien Ltd. dn $ 0.35 at $ 85.64
Ritchie Bros Auctioneers Inc. up $ 0.63 at $ 89.05
(All figures are in Canadian dollars.)
