WINNIPEG – The Canadian dollar rebounded on Thursday as the United States dollar weakened after a report on that country’s economy.
The loonie rose to its highest level since June 10, closing at US$0.7791 or US$1=C$1.2835, up from US$0.7769 or US$1=C$1.2872 on Wednesday.
The U.S. Dollar Index eased off 0.22 of a point to 106.23. Earlier today, the U.S. Commerce Department reported the country’s GDP contracted by an annual rate of 0.9 per cent in the second quarter, raising fears the nation may be headed for a recession.
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Crude oil prices were mixed on Thursday, affected by today’s economic news. Brent crude oil was up US$0.87 per barrel at US$107.49. Meanwhile, West Texas Intermediate (WTI) crude oil declined US$0.08 at US$97.18/barrel. Western Canadian Select (WCS) moved downward US$0.95 per barrel to US$75.89.
The TSX/S&P Composite Index grew 202.15 points at 19,456.71.
Gold climbed US$35.80 at US$1,773.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.39
Farmer’s Edge Inc. up $ 0.09 at $ 1.35
Linamar Corp. up $ 0.86 at $ 58.14
Maple Leaf Foods up $ 0.42 at $ 26.29
Nutrien Ltd. dn $ 0.06 at $107.00
Ritchie Bros Auctioneers Inc. up $ 1.32 at $ 90.62
(All figures are in Canadian dollars.)
