WINNIPEG, Nov. 27 (MarketsFarm) – The Canadian dollar was stronger on Friday, as investors backed away from the United States dollar in favour of riskier assets. Activity was somewhat thin, with many participants keeping to the sidelines due to the U.S. Thanksgiving holiday.
The Canadian dollar closed at US$0.7701 or US$1=C$1.2985, which compares with Thursday’s North American close of US$0.7685 or US$1=C$1.3013.
Improving economic data out of China accounted for some of the strength in the Canadian dollar, with resulting gains in equity markets also supportive.
However, a softer tone in crude oil put some pressure on the energy-linked currency.
West Texas Intermediate crude oil was down by 0.4 per cent, at US$45.52 per barrel.
The TSX Composite Index was up on the day, gaining 45.22 points, or 0.26 per cent, to close at 17,396.56 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.02 at $ 2.50
Linamar Corp.——————–dn $ 0.79 at $ 59.97
Maple Leaf Foods—————–up $ 0.29 at $ 26.44
Nutrien Ltd.———————up $ 1.00 at $ 64.30
Ritchie Bros Auctioneers Inc.—-up $ 0.18 at $ 88.51
Rocky Mountain Dealerships Inc.–up $ 0.09 at $ 7.07
(All figures are in Canadian dollars.)