WINNIPEG – The Canadian dollar closed below the 80-cent U.S. mark on Thursday for the first time since April 23.
The loonie was at US$0.7974 or US$1=C$1.2540 on Thursday, down from Wednesday’s close at US$0.8016 or US$1=C$1.2475, mainly due to concerns over the COVID-19 Delta variant. Meanwhile, the United States Dollar Index was down 0.27 points at 92.37.
Benchmark crude oil prices rebounded on Thursday after U.S. government data showed tightening crude and gasoline inventories. Brent crude oil rose US$0.90 per barrel to US$74.33. West Texas Intermediate (WTI) crude oil also rose US$0.90 to US$73.10/barrel. Western Canadian Select (WCS) crude oil surged US$1.36 to US$60.12/barrel.
The TSX Composite Index plunged 229.39 points to 20,061.21, its worst day since February, due to uncertainty over the U.S. economic recovery.
Gold dipped US$1.00 per ounce to US$1,802.63.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.30
Farmer’s Edge Inc. up $ 0.21 at $ 12.05
Linamar Corp. dn $ 0.84 at $ 74.19
Maple Leaf Foods up $ 0.33 at $ 25.15
Nutrien Ltd. up $ 0.31 at $ 74.58
Ritchie Bros Auctioneers Inc. dn $ 1.31 at $ 74.00
(All figures are in Canadian dollars.)
