WINNIPEG – The Canadian dollar regained yesterday’s losses after the United States experienced an unexpected rise in weekly unemployment claims.
The loonie was at US$0.7950 or US$1=C$1.2579 on Thursday, down from Wednesday’s close at US$0.7926 or US$1=C$1.2617. On the United States Dollar Index, the greenback lost 0.38 points to 92.07.
Benchmark crude oil prices were mixed on Thursday. Brent crude oil increased by US$0.17 per barrel to US$63.33. West Texas Intermediate (WTI) crude oil inched up US$0.05 to US$59.82/barrel. Western Canadian Select (WCS) crude oil dropped US$0.30 to US$49.18/barrel.
The TSX Composite Index closed on a record-high for the fourth straight day, rallying by 99.80 points to 19.228.87. U.S. Federal Reserve chair Jerome Powell said today he expects inflation to be temporary and the central bank had tools to curb it.
Gold jumped by US$18.87 to US$1,756.60 per ounce, reaching a three-week high close.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.18 at $ 3.63
Linamar Corp. up $ 1.81 at $ 75.87
Maple Leaf Foods up $ 0.36 at $ 27.73
Nutrien Ltd. dn $ 1.46 at $ 68.68
Ritchie Bros Auctioneers Inc. dn $ 0.14 at $ 77.32
Farmer’s Edge Inc. dn $ 0.11 at $ 17.50
(All figures are in Canadian dollars.)