WINNIPEG – The Canadian dollar had a freefall on Thursday to its lowest level in six months in the face of a stronger United States dollar and lower crude oil prices.
The loonie was at US$0.7817 or US$1=C$1.2792 on Thursday, compared to Wednesday’s close at US$0.7918 or US$1=C$1.2630.
The U.S. Dollar Index was up 0.42 of a point at 93.56, its highest point since November.
Benchmark crude oil prices fell to nine-month lows on Thursday amid fears of slowing economic growth due to the COVID-19 pandemic. Brent crude oil dropped US$1.33 per barrel to US$66.90. West Texas Intermediate (WTI) crude oil declined US$1.40 to US$64.06/barrel. Western Canadian Select (WCS) crude oil slipped US$0.71 to US$51.24/barrel.
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The TSX/S&P Composite Index slid further down on Thursday, losing 86.75 points to 20.215.36.
Gold retreated US$7.13 per ounce to US$1,780.69.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.12 at $ 3.19
Farmer’s Edge Inc. up $ 0.23 at $ 4.69
Linamar Corp. dn $ 1.28 at $ 69.42
Maple Leaf Foods up $ 0.70 at $ 27.67
Nutrien Ltd. dn $ 1.86 at $ 74.48
Ritchie Bros Auctioneers Inc. up $ 1.70 at $ 78.43
(All figures are in Canadian dollars.)
