WINNIPEG, June 3 (MarketsFarm) – The Canadian dollar ended the week by approaching closer to the 80 United States cent mark.
The loonie closed at US$0.7950 or US$1=C$1.2579, up from US$0.7938 or US$1=C$1.2597 on Thursday. The United States Dollar Index gained 0.33 of a point to 102.16 on Friday after the Bureau of Labour Statistics reported that 390,000 jobs were added in May and the unemployment rate was unchanged at 3.6 per cent.
Crude oil prices were higher to end the week due to increasing demand from China, lower U.S. gasoline stockpiles and doubts OPEC+’s planned production hikes in July and August will meet demand. Brent crude oil jumped US$3.65 per barrel at US$121.26. West Texas Intermediate (WTI) crude oil climbed US$3.43 at US$120.30/barrel. Western Canadian Select (WCS) was up US$1.40 to US$99.53.
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The TSX/S&P Composite Index shed 241.08 points at 20,790.73.
Gold fell US$17.90 at US$1,853.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.02 at $ 2.35
Farmer’s Edge Inc. dn $ 0.06 at $ 2.44
Linamar Corp. dn $ 0.65 at $ 56.29
Maple Leaf Foods dn $ 0.22 at $ 27.58
Nutrien Ltd. dn $ 2.85 at $117.75
Ritchie Bros Auctioneers Inc. dn $ 0.71 at $ 76.71
(All figures are in Canadian dollars.)
