Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 9 (MarketsFarm) – The Canadian dollar retreated on Thursday, marking the biggest one-day loss in 10 months. A surge in the United States dollar and weaker crude oil prices end the loonie’s steady climb.
The loonie closed at US$0.7909 or US$1=C$1.2644, compared to Wednesday’s close of US$0.7974 or US$1=C$1.2540.
On the U.S. Dollar Index, the greenback advanced 0.769 of a point at 103.175.
Benchmark crude oil prices were lower on Thursday, coming away from three-month highs as China reinstituted some of the lockdown measures for parts of Shanghai that curtailed the country’s demand.
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Brent crude oil shed 81 cents at US$122.77 per barrel. West Texas Intermediate (WTI) crude oil decreased935 cents at US$121.18 per barrel. Western Canadian Select (WCS) gave up US$1.66 at US$101.37 per barrel.
The TSX Composite Index dropped 228.54 points to finish Thursday at 20,563.89.
Gold lost US$5.80 at US$1,850.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.40
Farmers Edge Inc. dn $ 0.05 at $ 2.15
Linamar Corp. up $ 0.11 at $ 57.67
Maple Leaf Foods dn $ 0.36 at $ 27.42
Nutrien Ltd. up $ 2.42 at $113.31
Ritchie Bros Auctioneers Inc. up $ 1.22 at $ 76.93
(All figures are in Canadian dollars.)
