WINNIPEG – The Canadian dollar rallied on Friday, along with crude oil prices and stock markets.
The loonie closed at US$0.7732 or US$1=C$1.2933, up from US$0.7703 or US$1=C$1.2982 on Thursday. The United States Dollar Index lost 0.32 of a point to 104.11 on Friday.
Crude oil prices rebounded on Friday. Brent crude oil gained US$3.06 per barrel at US$107.58. West Texas Intermediate (WTI) crude oil rose US$3.33 at US$107.60/barrel. Western Canadian Select (WCS) rallied US$3.39 per barrel to US$89.70.
The TSX/S&P Composite Index surged 345.79 points to 19,062.91. It was the best week for North American stock markets in four weeks due to an easing of inflation fears.
Gold dropped US$2.30 at US$1,827.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.17
Farmer’s Edge Inc. up $ 0.15 at $ 1.80
Linamar Corp. up $ 1.27 at $ 56.04
Maple Leaf Foods up $ 0.52 at $ 25.72
Nutrien Ltd. up $ 0.91 at $102.50
Ritchie Bros Auctioneers Inc. up $ 1.03 at $ 79.60
(All figures are in Canadian dollars.)
