By MarketsFarm
WINNIPEG, March 19 (MarketsFarm) – The Canadian dollar was virtually unchanged on Thursday, due to gains made in crude oil.
The dollar finished the day at US$0.6899 or US$1=C$1.4495, compared to Tuesday when it closed at US$0.6898 or US$1=C$1.4496.
Benchmark crude oil prices were higher on Thursday due to the economic stimulus packages announced several countries. However, Saudi Arabia reiterated its plans to increase oil production, this time to 12.3 million barrels per day (BPD) rather than the 13.0 million announced earlier this week.
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Brent crude oil gained US$3.40 to close at US$28.28 per barrel. West Texas Intermediate (WTI) crude oil jumped US$5.00 close at US$27.37 per barrel. Western Canadian Select increased by US$3.63 close at US$12.75 per barrel.
The TSX Composite Index regained 449.04 points to close at 12,170.46 thanks to the positive reception of the Canadian government’s C$82 billion stimulus package announced on Wednesday.
Gold was down US$14.70 at 1,471.35 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.85
Linamar Corp. up $ 2.60 at $ 31.23
Maple Leaf Foods up $ 0.99 at $ 21.7`
Nutrien Ltd. up $ 3.50 at $ 39.80
Ritchie Bros Auctioneers Inc. up $ 2.66 at $ 41.82
Rocky Mountain Dealerships Inc. up $ 0.04 at $ 3.57
(All figures are in Canadian dollars.)
