Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 25 (MarketsFarm) – The Canadian dollar was slightly higher on Friday, benefitting from a dip in the United States dollar and increased crude oil prices.
The loonie closed at US$0.8134 or US$1=C$1.2294, compared to Thursday’s close of US$0.8120 or US$1=C$1.2316.
On the U.S. Dollar Index, the greenback slipped 0.025 at 91.770 points.
Benchmark crude oil prices were higher on Friday, which marked the fifth consecutive week of gains. Global demand is widely expected to increase in the coming weeks and the OPEC+ alliance is believed to be set on a modest increase in oil production.
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Brent crude oil was up 53 cents at US$76.09 per barrel. West Texas Intermediate (WTI) crude oil gained 67 cents at US$73.97 per barrel. Western Canadian Select (WCS) rose 61 cents at US$60.12 per barrel.
The TSX Composite Index closed relatively flat with a bump up of 12.46 points on Friday to finish at 20,227.58.
Gold was up US$2.90 at US$1,779.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.08 at $ 3.31
Farmers Edge Inc. dn $ 0.23 at $ 11.92
Linamar Corp. up $ 1.28 at $ 81.64
Maple Leaf Foods up $ 0.30 at $ 26.00
Nutrien Ltd. up $ 0.08 at $ 75.15
Ritchie Bros Auctioneers Inc. dn $ 0.81 at $ 74.58
(All figures are in Canadian dollars.)
