Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 14 (MarketsFarm) – The Canadian dollar was lower on Friday as the United States dollar regained the strength it lost yesterday. Weaker crude oil prices also contributed to the loonie’s decline.
The Canadian dollar finished the day at US$0.7217 or US$1=C$1.3856, compared to Thursday’s close of US$0.7243 or US$1=C$1.3806.
On the U.S. Dollar Index, the greenback added 0.907 of a point at 113.160.
Benchmark crude oil prices retreated on Friday in the face of a growing crude inventory in the U.S.
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Brent crude oil dropped US$2.78 at US$91.79 per barrel. West Texas Intermediate (WTI) crude oil fell US$3.34 at US$85.77/barrel. Meanwhile, Western Canadian Select (WCS) lost US$2.56 at US$56.24 per barrel.
Statistics Canada (StatCan) issued its manufacturing sales and wholesale sales reports today. The federal agency said manufacturing sales dropped two per cent in August at C$70.4 billion. However, StatCan noted that wholesale sales increased 1.4 per cent in August at a record C$81.3 billion.
The TSX Composite Index pulled back 287.28 points to finish Friday at 18,326.35.
Gold plummeted US$27.70 at US$1,649.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.01 at $ 2.01
Farmers Edge Inc. up $ 0.03 at $ 0.50
Linamar Corp. up $ 0.22 at $ 56.74
Maple Leaf Foods up $ 0.16 at $ 21.07
Nutrien Ltd. dn $10.80 at $108.20
(All figures are in Canadian dollars.)
