Canadian Financial Close: Loonie retreats from 79 cents

By MarketsFarm

WINNIPEG, Jan. 15 (MarketsFarm) – The Canadian dollar lost nearly a half cent on Friday, as the United States gained strength.

The dollar finished at US$0.7857 or US$1.2727, compared to Thursday’s close of US$0.7903 or US$1=C$1.2654.

The greenback was up more than a half point on the U.S. Dollar Index at 90.770.

Benchmark crude oil prices were lower on Friday, due to fears that the surge in COVID-19 cases globally will lead to reduced demand.

Brent crude oil dropped US$1.52 at US$54.90 per barrel. West Texas Intermediate (WTI) crude oil fell US$1.40 at US$52.17/barrel. Western Canadian Select (WCS) crude oil lost US$1.13 at US$41.66/barrel.

The TSX Composite Index was down 49.06 points on Friday to finish at 17,909.03.

Gold dropped US$25.80 at US$1,826.60 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 2.73
Linamar Corp. dn $ 0.41 at $ 72.49
Maple Leaf Foods dn $ 0.14 at $ 26.07
Nutrien Ltd. up $ 0.04 at $ 68.27
Ritchie Bros Auctioneers Inc. dn $ 1.08 at $ 76.96
Rocky Mountain Dealerships Inc. unchanged at $ 7.40
(All figures are in Canadian dollars.)

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