Canadian Financial Close: Loonie climbs a pinch to close out week

By MarketsFarm

WINNIPEG, Sept. 18 (MarketsFarm) – The Canadian dollar bumped up a little on Friday, getting support from increases in wholesale trade and retail sales reports.

The dollar finished at US$0.7584 or US$=C$1.3186, compared to Thursday’s close of US$0.7576 or US$1=C$1.3200.

Statistics Canada reported the wholesale trade rose 4.3 per cent in July, more than double of what analysts predicted. The federal agency said retail sales were nudged up 0.6 per cent in July and it estimated August sales could be up 1.1 per cent.

Benchmark crude oil prices were slightly lower on Friday as the announcement by Libyan rebel commander Khalifa Haftar that the country’s oil production and exports could resume weighed on values. Support came from the move by OPEC+ to crackdown on members of the alliance that are violating their production cuts.

Brent crude oil was down 34 cents at US$42.96 per barrel. West Texas Intermediate (WTI) crude oil lost 11 cents at US$40.86 per barrel. Meanwhile, Western Canadian Select (WCS) crude gained 29 cents at US$30.36 per barrel.

The TSX Composite Index lost 48.94 points on Friday to finish at 16,197.78.

Gold was up US$6.78 at US$1,951.22 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 2.46
Linamar Corp. up $ 0.50 at $ 39.89
Maple Leaf Foods up $ 0.65 at $ 27.38
Nutrien Ltd. up $ 1.23 at $ 54.99
Ritchie Bros Auctioneers Inc. up $ 1.08 at $ 76.27
Rocky Mountain Dealerships Inc. up $ 0.16 at $ 5.82
(All figures are in Canadian dollars.)

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