Canadian Financial Close: Loonie at three-week low

By MarketsFarm

WINNIPEG, Sept. 17 (MarketsFarm) – The Canadian dollar was lower Thursday, as Western Canadian Select crude oil failed to keep pace with gains in major benchmark crudes. The loonie dropped to its lowest since Aug. 25.

The dollar finished at US$0.7576 or US$=C$1.3200, compared to Wednesday’s close of US$0.7594 or US$1=C$1.3168.

WCS crude dropped US$2.32 at US$30.07 per barrel.

Meanwhile, benchmark crude oil prices were higher on Thursday after the OPEC+ alliance stated it would crack down on its members who failed to meet production cut expectations, including Iraq, Nigeria and the United Arab Emirates. The resumption of oil production in the Gulf of Mexico put pressure on values.

Brent crude oil rose US$1.11 at US$43.33 per barrel. West Texas Intermediate (WTI) crude oil gained 92 cents at US$41.08 per barrel.

The TSX Composite Index lost 48.94 points on Thursday to finish at 16,246.72.

Gold was down US$12.90 at US$1,946.36 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.09 at $ 2.46
Linamar Corp. dn $ 0.49 at $ 39.39
Maple Leaf Foods dn $ 0.77 at $ 26.73
Nutrien Ltd. up $ 0.87 at $ 53.76
Ritchie Bros Auctioneers Inc. up $ 0.31 at $ 75.19
Rocky Mountain Dealerships Inc. unchanged at $ 5.66
(All figures are in Canadian dollars.)

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