By MarketsFarm
WINNIPEG, May 15 (MarketsFarm) – The Canadian dollar was virtually unchanged on Friday, after it fluctuated across both sides of 71 U.S. cents. The dollar was supported by gains in crude oil, but growing uncertainty in United States/China trade relations weighed on values.
The loonie finished the day at US$0.7095 or US$1=C$1.4094, compared to Thursday when it closed at US$0.7097 or US$1=C$1.4090.
Benchmark crude oil prices were higher on Friday, reaching their best levels since March as global production cutbacks kick in. This comes just when demand is expected to increase as lockdown restrictions are eased around the world.
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Brent crude oil gained US$1.73 close at US$32.86 per barrel. West Texas Intermediate (WTI) crude oil jumped US$2.16 at US$29.72 per barrel. Western Canadian Select (WCS) rose US$1.86 at US$25.23 per barrel.
The TSX Composite Index was up 129.24 points, to close at 14,638.90.
Gold was up US$13.03 at US$1,743.33 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.65
Linamar Corp. dn $ 0.41 at $ 31.43
Maple Leaf Foods dn $ 0.09 at $ 25.89
Nutrien Ltd. up $ 0.40 at $ 44.70
Ritchie Bros Auctioneers Inc. dn $ 0.12 at $ 56.96
Rocky Mountain Dealerships Inc. up $ 0.17 at $ 4.22
(All figures are in Canadian dollars.)
