Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 2 (MarketsFarm) – The Canadian dollar was stronger on Friday, but closed off its highs as trading resumed after Canada Day.
The loonie closed at US$0.8095 or US$1=C$1.2353, compared to Wednesday’s close of US$0.8068 or US$1=C$1.2394. On the U.S. Dollar Index the greenback pulled back 0.344 at 92.250 points.
After a trade surplus in April, Statistics Canada reported on Friday that the country recorded a trade deficit of C$1.4 billion for May. The federal agency said total imports increased 2.1 per cent from April, coming to C$50.9 billion while exports totaled C$49.5 billion, down 1.6 per cent.
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Benchmark crude oil prices were mixed on Friday, but still marked the sixth-consecutive week for an overall increase. The ongoing disagreement within the OPEC+ alliance over whether to expand oil production gave the impetus for today’s rise in prices.
Brent crude oil gained 31 cents at US$76.15 per barrel. West Texas Intermediate (WTI) crude oil dipped nine cents at US$75.14 per barrel. Western Canadian Select (WCS) increased 53 cents at US$61.31 per barrel.
The TSX Composite Index rose 60.53 points on Friday to finish at 20,226.11.
Gold jumped US$11.60 at US$1,788.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.31
Farmers Edge Inc. dn $ 0.20 at $ 11.78
Linamar Corp. up $ 0.28 at $ 78.03
Maple Leaf Foods up $ 0.03 at $ 25.76
Nutrien Ltd. dn $ 0.12 at $ 74.99
Ritchie Bros Auctioneers Inc. up $ 0.30 at $ 73.79
(All figures are in Canadian dollars.)
