Compiled by MarketsFarm
WINNIPEG, June 23 (MarketsFarm) – The Canadian dollar gave up almost a quarter of a cent on Friday due to pressure from a stronger United States dollar.
The loonie closed at US$0.7576 or US$1=C$1.3199, compared to Thursday’s finish of US$0.7599 or US$1=C$1.3160. The greenback advanced 0.531 of a point at 102.525 on the U.S. Dollar Index.
Bloomberg Canada reported it monthly survey of economists found they believe the Bank of Canada will raise its key interest again this year by 25 basis points at five per cent.
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Benchmark crude oil prices were a pinch lower on Friday, recovering most of larger losses earlier today. Pressure subsided over another rate increase by the U.S. Federal Reserve and support was felt from OPEC+ production cuts.
Brent crude oil dipped 14 cents at US$74.00 per barrel, while West Texas Intermediate (WTI) shed 23 cents at US$69.28, and Western Canadian Select (WCS) gave up 25 cents at US$58.18.
The TSX Composite Index lost 162.67 points on Friday to close at 19,418.23.
Gold was up US$6.10 at US$1,929.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.05 Farmers Edge Inc. up $0.025 at $ 0.21 Linamar Corp. dn $ 1.76 at $ 65.75 Maple Leaf Foods dn $ 0.01 at $ 25.12 Nutrien Ltd. dn $ 0.93 at $ 77.56 Ritchie Bros Auctioneers Inc. dn $ 1.69 at $ 73.06
(All figures are in Canadian dollars.)
