Canadian Financial Close: C$ settles steady

By MarketsFarm

WINNIPEG, Aug. 30 (MarketsFarm) – The Canadian dollar settled near unchanged on Friday, after moving to both sides of unchanged in choppy activity. Solid inflation data was countered by losses in crude oil.
The Canadian dollar closed at US$0.7522 or US$1=C$1.3295, which compares with Thursday’s close of US$0.7521, or US$1=C$1.3296.
Canada’s GDP grew by 0.9 per cent in the second quarter, after only moving up by 0.1 per cent the previous two quarters, according to a Statistics Canada report. The annual rate of inflation of 3.7 per cent came in well above market expectations.

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Crude oil was down sharply on Friday, with West Texas Intermediate dropping three percent – to roughly US$55 per barrel. The losses in oil came as Russia reportedly won’t be cutting output as much as had been expected in August.
The TSX Composite Index was higher, gaining 57.58 points, or 0.35 per cent, to close at 16,442.07 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————- $ 0.00 at $ 2.64
Linamar Corp.——————–up $ 0.36 at $ 40.44
Maple Leaf Foods—————–up $ 0.11 at $ 31.66
Nutrien Ltd.———————up $ 0.77 at $ 67.05
Ritchie Bros Auctioneers Inc.—-up $ 0.03 at $ 52.67
Rocky Mountain Dealerships Inc.–up $ 0.08 at $ 6.65

(All figures are in Canadian dollars.)
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