WINNIPEG – The Canadian dollar rebounded on Friday despite unflattering employment numbers released today from Statistics Canada.
The loonie was at US$0.8275 or US$1=C$1.2084 on Friday, up from Thursday’s close at US$0.8262 or US$1=C$1.2103. Meanwhile, the United States Dollar Index dropped 0.40 points to 90.11. Statistics Canada reported 68,000 lost jobs in the month of May, more than triple economists’ predictions. On the same day, according to the United States Labor Department, non-farm payrolls increased by 559,000 in May stateside, but the amount was lower than predicted.
Benchmark crude oil prices rallied on Friday amidst tightening supply and recovering demand. Brent crude oil gained US$0.36 per barrel to US$71.67. West Texas Intermediate (WTI) crude oil increased US$0.55 to US$69.36/barrel. Western Canadian Select (WCS) crude oil advanced US$0.53 to US$54.90/barrel.
For the first time ever, the TSX Composite Index closed above the 20,000-point mark, climbing 87.80 points to 20,029.19. The S&P 500, Dow Jones and Nasdaq also rose mainly due to the recent economic data in the U.S.
Gold rose US$20.88 per ounce to US$1,891.64.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.50
Farmer’s Edge Inc. up $ 0.14 at $ 10.72
Linamar Corp. up $ 1.54 at $ 83.48
Maple Leaf Foods unchanged at $ 26.71
Nutrien Ltd. up $ 2.12 at $ 77.97
Ritchie Bros Auctioneers Inc. dn $ 0.48 at $ 71.95
(All figures are in Canadian dollars.)