By MarketsFarm
WINNIPEG, Jan. 8 (MarketsFarm) – The Canadian dollar closed virtually unchanged on Friday. However, during the course of trading the loonie not only peaked above 79 U.S. cents, but also slipped below 78.50 before climbing back to where it started the day.
The dollar finished at US$0.7871 or US$1.2705, compared to Thursday’s close of US$0.7870 or US$1=C$1.2707.
Benchmark crude oil prices were stronger on Friday, due to Saudi Arabia’s plan to cut its production by one million barrels per day in February and March.
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Brent crude oil gained US$1.90 at US$56.28 per barrel. West Texas Intermediate (WTI) crude oil rose US$1.86 at US$52.69/barrel. Western Canadian Select (WCS) crude oil was up US$1.87 at US$37.71/barrel.
The TSX Composite Index edged higher by 14.50 points on Friday to finish at 18,042.07.
Gold plummeted US$67.07 at US$1,846.55 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.70
Linamar Corp. up $ 1.51 at $ 73.11
Maple Leaf Foods up $ 0.20 at $ 27.10
Nutrien Ltd. dn $ 0.13 at $ 65.37
Ritchie Bros Auctioneers Inc. up $ 0.74 at $ 87.74
Rocky Mountain Dealerships Inc. unchanged at $ 7.40
(All figures are in Canadian dollars.)
