Compiled by MarketsFarm
WINNIPEG, May 11 (MarketsFarm) – The Canadian dollar plunged more than a half cent on Thursday as the United States dollar gained strength and crude oil prices fell back.
The Canadian dollar closed at US$0.7420 or US$1=C$1.3377, compared to Wednesday’s finish of US$0.7477 or US$1=C$1.3375. On the U.S. Dollar Index, the greenback advanced 0.631 of a point at 101.900.
Benchmark crude oil prices were lower on Thursday due to bearish trade data out of China and ongoing troubles for U.S. banks.
Brent crude oil gave up 89 cents at US$75.52 per barrel and West Texas Intermediate (WTI) retreated US$1.09 at US$71.47/barrel.
The TSX Composite Index lost 81.70 points on Thursday closing at 20,417.61.
Gold fell US$16.90 at US$2,020.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.16 Farmers Edge Inc. up $ 0.01 at $ 0.19 Linamar Corp. up $ 2.48 at $ 67.75 Maple Leaf Foods up $ 2.45 at $ 27.43 Nutrien Ltd. dn $ 1.38 at $ 83.29 Ritchie Bros Auctioneers Inc. dn $ 3.96 at $ 73.60
(All figures are in Canadian dollars.)
