By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar added more strength on Thursday, as its United States counterpart took another hard hit while crude oil prices had a second good day.
The Canadian dollar closed at US$0.7452 or US$1=C$1.3419, compared to Wednesday’s finish of US$0.7374 or US$1=C$1.3561. On the U.S. Dollar Index, the greenback tumbled 0.902 of a point at 101.575.
Benchmark crude oil prices continued higher on Thursday, pushed upward by the weaker U.S. dollar and increased demand projected by the International Energy Agency.
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Brent crude oil advanced US$2.43 at US$76.69 per barrel, and West Texas Intermediate increased US$2.23 at US$71.70.
Statistics Canada reported on Thursday that manufacturing sales dropped 2.8 per cent in October at C$71 billion.
The TSX Composite Index rose 149.35 points on Thursday at 20,778.80, for one of its highest closes in nearly a year.
Gold jumped US$53.70 at US$2,051.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.06 at $ 2.28 Farmers Edge Inc. up $0.005 at $ 0.245 Linamar Corp. up $ 2.63 at $ 62.82 Maple Leaf Foods up $ 0.03 at $ 25.27 Nutrien Ltd. dn $ 0.24 at $ 74.36 RB Global Inc. up $ 0.16 at $ 87.33
(All figures are in Canadian dollars)
