WINNIPEG – The Canadian dollar closed the week on a down note as the United States greenback strengthens, the Omicron COVID-19 variant continues to spread and oil prices slide.
The loonie was at US$0.7785 or US$1=C$1.2846 on Friday, down from Thursday’s close of US$0.7824 or US$1=C$1.2782.
The United States Dollar Index surged 0.60 of a point to 96.64 after reaching 96.68 earlier in the day, its highest point since Nov. 28.
Benchmark crude oil prices tumbled on Friday due to fears over Omicron. Brent crude oil fell US$1.86 per barrel to US$73.16. West Texas Intermediate (WTI) crude oil retreated US$1.98 to US$70.40/barrel. Western Canadian Select (WCS) crude oil dropped US$1.17 at US$55.70/barrel.
The TSX/S&P Composite Index held mostly steady, declining 0.77 of a point to 20,739.01.
Gold gained US$0.90 per ounce to US$1,799.10.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.04 at $ 3.07
Farmer’s Edge Inc. dn $ 0.14 at $ 3.36
Linamar Corp. up $ 1.01 at $ 72.57
Maple Leaf Foods up $ 0.46 at $ 29.50
Nutrien Ltd. up $ 0.08 at $ 91.26
Ritchie Bros Auctioneers Inc. dn $ 0.30 at $ 80.72
(All figures are in Canadian dollars.)
