WINNIPEG, Nov. 7 (MarketsFarm) – The Canadian dollar was weaker at market close on Friday, due to Statistics Canada’s monthly job report.
The loonie finished the day at US$0.7563 or US$1=C$1.3223, which compares with Thursday’s close of US$0.7590 or C$1.3176.
While experts projected a gain of 15,000 jobs in Canada for September, the official result from Statistics Canada was a net loss of 1,800.
Benchmark oil prices were slightly higher on Friday despite new found turmoil with the yet-to-be-signed United States/China partial trade deal known as Phase One. China stated on Thursday they had an agreement with the U.S. for tariffs against each to be rolled back. On Friday, U.S. President Donald Trump said there wasn’t such an agreement.
Brent crude oil rose 35 cents to close at US$62.64 per barrel, and West Texas Intermediate (WTI) was up 27 cents to close at US$57.42 per barrel. Western Canadian Select crude gained 45 cents at US$34.54 per barrel.
The TSX/S&P Composite Index was up 71.67 on Friday to close at 16,877.42 points, following the lead of the U.S. stock markets in shaking off Trump’s comments.
The Dow Jones gained all of 3.35 points to end the week at 27,678.15. The S&P 500 rose 7.77 to close at 3,092.95 points. The NASDAQ was up 40.79 to finish at 8,475.31 points.
Gold down US$7.60 on Friday, closing at US$1,458.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.60
Linamar Corp. up $ 0.20 at $ 46.03
Maple Leaf Foods up $ 0.01 at $ 23.13
Nutrien Ltd. dn $ 0.07 at $ 64.90
Ritchie Bros Auctioneers Inc. dn $ 0.18 at $ 54.66
Rocky Mountain Dealerships Inc. dn $ 0.08 at $ 6.33
(All figures are in Canadian dollars.)