By MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) – The Canadian dollar held steady on Friday at just over 75 U.S. cents, thanks in part to a rally in oil prices.
The dollar finished the day at US$0.7509 or US$1=C$1.3317, compared to Wednesday when it closed at US$0.7502 or US$1=C$1.3330
U.S. stocks made gains on Friday following reports that unemployment has hit its lowest rate in five decades, despite earlier reports that fewer jobs were added to the economy than initially expected. Wage gains have also continued behind the expected pace.
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The TSX Composite Index closed higher by 58.06 points at 16,369.03. The S&P 500 gained 23.02 to close at 2,910.63. Similarly, the Dow Jones increased by 122.42 points to finish at 26,201.04. The NASDAQ was down 83.01 to finish at 7,872.26.
Benchmark oil prices were higher despite lingering concerns of global economic growth and demand for oil. Brent crude oil was up by 71 cents to close at US$58.42 per barrel. West Texas Intermediate (WTI) crude oil was up by 40 cents to close at US$52.85 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.05 at $ 3.60
Linamar Corp. up $ 1.62 at $ 38.36
Maple Leaf Foods up $ 0.05 at $ 29.47
Nutrien Ltd. dn $ 0.29 at $ 64.48
Ritchie Bros Auctioneers Inc. dn $ 0.10 at $ 52.06
Rocky Mountain Dealerships Inc. up $ 0.14 at $ 7.04
(All figures are in Canadian dollars.)
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