By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar slipped on Friday, forfeiting almost a tenth of a cent to a stronger United States dollar but increases in crude oil halted further declines.
The loonie closed at US$0.7154 or US$1=C$1.3979 compared to Thursday’s finish of US$0.7163 or US$1=1.3960. On the U.S. Dollar Index, the greenback advanced 0.535 of a point at 107.465 as it hit a two-year high.
Benchmark crude oil prices were higher on Friday, due to rising tensions between the U.S. and Iran as well as between Ukraine and Russia.
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Brent crude oil rose 94 cents at US$75.17 per barrel and West Texas Intermediate gained US$1.19 at US$71.29.
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The TSX Composite Index added 53.60 points on Friday to close at 25,444.28.
Gold climbed $36.20 at US$2,711.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.88 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.70 at $ 61.85 Maple Leaf Foods up $ 0.01 at $ 22.62 Nutrien Ltd. up $ 0.16 at $ 65.61 RB Global Inc. up $ 3.51 at $136.69
(All figures are in Canadian dollars)
