WINNIPEG – While new COVID-19 cases have reached a new daily high with more than 16,000 reported on Thursday, the Canadian dollar exceeded the 78 United States cent mark on the strength of welcome economic data.
As of 2:45 p.m. CST, the loonie was at US$0.7805 or US$1=C$1.2812 on Thursday, up from Wednesday’s close of US$0.7773 or US$1=C$1.2865. Statistics Canada reported earlier today that the country’s gross domestic product increased 0.8 per cent in October and 0.3 per cent in November, marking six straight months of gains.
The United States Dollar Index declined 0.05 of a point to 96.02.
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Benchmark crude oil prices continued their gains on Thursday due to low stockpiles. Brent crude oil advanced US$1.64 per barrel to US$76.93. West Texas Intermediate (WTI) crude oil jumped US$1.11 to US$73.87/barrel. Western Canadian Select (WCS) crude oil increased US$0.78 at US$58.58/barrel.
The TSX/S&P Composite Index surged 170.77 points to 21,240.82.
Gold rose US$7.00 per ounce to US$1,809.20.
Canada’s agricultural sector fared as follows (as of 2:50 p.m. CST):
Buhler Industries up $ 0.01 at $ 2.96
Farmer’s Edge Inc. up $ 0.01 at $ 3.29
Linamar Corp. up $ 1.60 at $ 74.50
Maple Leaf Foods up $ 0.25 at $ 29.33
Nutrien Ltd. up $ 0.88 at $ 96.10
Ritchie Bros Auctioneers Inc. up $ 0.80 at $ 78.68
(All figures are in Canadian dollars.)
