Compiled by MarketsFarm
WINNIPEG, Feb. 10 (MarketsFarm) – The Canadian dollar was up Friday by more than a third of a cent due to a strong jobs report and strength in crude oil prices. An increase in the United States dollar tempered the upswing in the loonie
The dollar closed at US$0.7484 or US$1=C$1.3362, compared to Thursday’s close of US$0.7448 or US$1=C$1.3427. On the U.S. Dollar Index, the greenback advanced 0.364 of a point at 103.470.
Statistics Canada reported that job numbers ballooned well past analysts’ expectations, with 150,000 new positions added in January.
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Benchmark crude oil prices were higher on Friday after Russia announced production cuts in retaliation over economic sanctions placed against it. As well, OPEC+ stated it will not boost their output to cover the shortfalls from its oil ally.
Brent crude oil advanced US$2.00 at US$86.50 per barrel and West Texas Intermediate (WTI) gained US$1.75 at US$79.81. Western Canadian Select (WCS) rose US$1.86 at US$61.13.
The TSX Composite Index finished Thursday nudging up 14.37 points at 20,612.12.
Gold was down US$3.20 at US$1,875.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.26 Farmers Edge Inc. up $ 0.02 at $ 0.27 Linamar Corp. dn $ 2.16 at $ 71.82 Maple Leaf Foods up $ 0.06 at $ 26.21 Nutrien Ltd. up $ 1.10 at $106.86 Ritchie Bros Auctioneers Inc. dn $ 1.35 at $ 84.15
(All figures are in Canadian dollars.)
