Glacier FarmMedia MarketsFarm – The Canadian dollar dropped below the 73 United States cent mark to close the week.
The loonie closed at US$0.7285 or US$1=C$1.3727, compared to US$0.7301 or US$1=C$1.3696 on Thursday. Statistics Canada reported on Friday retail sales were down 0.8 per cent in May, while estimating a 0.3 per cent decline in June.
The U.S. Dollar Index was up 0.21 of a point at 104.38.
Crude oil prices plunged on Friday on Chinese economic fears and renewed hopes for a ceasefire between Israel and Hamas. Brent crude oil lost US$2.34 at US$82.77 per barrel. West Texas Intermediate (WTI) fell US$2.54 at US$80.28/barrel.
The TSX/S&P Composite Index lost 36.37 points at 22,690.39.
Gold lost more than two per cent of its value, falling US$55.30 at US$2,402.00 per ounce as investors went back to the U.S. dollar.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.02
Farmer’s Edge Inc. unchanged at $ 0.345
Linamar Corp. dn $ 0.41 at $ 69.28
Maple Leaf Foods dn $ 0.02 at $ 24.57
Nutrien Ltd. dn $ 0.32 at $ 69.38
RB Global Inc. dn $ 1.04 at $109.47
(All figures are in Canadian dollars.)
