Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 20 (MarketsFarm) – The Canadian dollar eased back on Friday, as pressure from a stronger United States and support from higher crude oil prices almost balanced each other.
The loonie closed at US$0.7795 or US$1=C$1.2829, compared to Thursday’s close of US$0.7807 or US$1=C$1.2809.
On the U.S. Dollar Index, the greenback climbed 0.334 of a point at 103.085.
Benchmark crude oil prices were higher on Friday, as international sanctions against Russia continued to underpin values. However, moves by China and India to acquire Russian oil weighed on prices.
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Brent crude oil increased US$1.01 at US$113.05 per barrel. West Texas Intermediate (WTI) crude oil rose US$1.02 at US$113.23 per barrel. Western Canadian Select (WCS) gained US$1.34 at US$95.75 per barrel.
The TSX Composite Index dipped 15.69 points to finish Friday at 20,197.61.
Gold was up US$2.00 at US$1,843.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.46
Farmers Edge Inc. up $ 0.09 at $ 2.50
Linamar Corp. dn $ 1.06 at $ 51.23
Maple Leaf Foods up $ 0.37 at $ 27.19
Nutrien Ltd. dn $ 5.31 at $124.54
Ritchie Bros Auctioneers Inc. dn $ 0.51 at $ 77.07
(All figures are in Canadian dollars.)
