WINNIPEG – The Canadian dollar declined Friday, hours after a somewhat positive report from Statistics Canada (StatCan).
The loonie closed at US$0.7345 or US$1=C$1.3615, down from US$0.7382 or US$1=C$1.3547 on Thursday. In a report released by StatCan, Canada’s economy grew by 0.1 per cent in August and preliminary data suggested another 0.1 per cent increase in September. An initial estimate of third-quarter GDP was an annualized rate of 1.6 per cent, compared to 3.3 per cent in the second quarter.
The United States Dollar Index gained 0.12 of a point at 110.71.
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Crude oil prices pulled back on Friday due to recession fears. Brent crude oil dropped US$0.85 per barrel to US$96.07. West Texas Intermediate (WTI) crude oil declined US$0.85 at US$88.23/barrel. Western Canadian Select (WCS) fell US$1.60/barrel to US$58.67.
The TSX/S&P Composite Index added 119.08 points to 19,471.19.
Gold tumbled US$17.80 at US$1,647.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 1.71
Farmer’s Edge Inc. dn $ 0.02 at $ 0.48
Linamar Corp. up $ 0.96 at $ 58.18
Maple Leaf Foods up $ 0.51 at $ 20.96
Nutrien Ltd. dn $ 0.97 at $112.09
Ritchie Bros Auctioneers Inc. up $ 3.34 at $ 89.77
(All figures are in Canadian dollars.)
