Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 21 (MarketsFarm) – The Canadian dollar finished a little closer to 83 United States cents on Friday, as the loonie approached six-year highs. Canada’s currency exceeded the 83-cent mark earlier in the day, before slipping back.
The loonie closed at US$0.8291 or US$1=C$1.2061, compared to Thursday’s close of US$0.8285 or US$1=C$1.2070.
News that Canadian retail sales rose 3.6 per cent in March bolstered the dollar, but some of the shine was dulled when Statistics Canada stressed a decline of at least five per cent was likely for April.
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Benchmark crude oil prices bounced back on Friday, erasing much of the losses incurred yesterday as a sense of optimism made its way back into the global markets.
Brent crude oil rose US$1.56 at US$66.67 per barrel. West Texas Intermediate (WTI) crude oil gained US$1.88 at US$63.82/barrel. Western Canadian Select (WCS) was up US$1.76 at US$49.19/barrel.
The TSX Composite Index slipped back 15.65 points on Friday to finish at 19,527.30.
Gold was down US$2.60 at US$1,880.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.59
Farmers Edge Inc. up $ 0.09 at $ 10.34
Linamar Corp. up $ 0.62 at $ 74.70
Maple Leaf Foods up $ 0.04 at $ 26.70
Nutrien Ltd. up $ 0.15 at $ 72.36
Ritchie Bros Auctioneers Inc. up $ 0.22 at $ 74.96
(All figures are in Canadian dollars.)
