WINNIPEG, May 14 (MarketsFarm) – The Canadian dollar was stronger on Friday, underpinned by gains in crude oil and solid domestic economic data.
The Canadian dollar closed at US$0.8258 or US$1=C$1.2109 on Friday, which compares with Thursday’s North American close of US$0.8230 or US$1=C$1.2150.
Canadian factory sales were up by 3.5 per cent in March compared to the previous month, while wholesale sales were up by 2.8 per cent, according to data from Statistics Canada.
Crude oil recovered from Thursday’s downturn to post solid gains on Friday. West Texas Intermediate was up by 2.48 per cent at US$65.40 per barrel.
The TSX Composite Index was stronger, up 230.88 points, or 1.21 per cent, to close at 19,366.69 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.04 at $ 3.72
Linamar Corp.——————–up $ 0.67 at $ 75.58
Maple Leaf Foods—————–up $ 0.33 at $ 26.66
Nutrien Ltd.———————up $ 1.24 at $ 73.34
Ritchie Bros Auctioneers Inc.—-up $ 1.92 at $ 76.59
Farmers Edge Inc.—————-dn $ 2.37 at $ 10.65
(All figures are in Canadian dollars.)