Compiled by MarketsFarm
WINNIPEG, Feb. 10 (MarketsFarm) – The Canadian dollar was up Friday by more than a third of a cent due to a strong jobs report and strength in crude oil prices. An increase in the United States dollar tempered the upswing in the loonie
The dollar closed at US$0.7484 or US$1=C$1.3362, compared to Thursday’s close of US$0.7448 or US$1=C$1.3427. On the U.S. Dollar Index, the greenback advanced 0.364 of a point at 103.470.
Statistics Canada reported that job numbers ballooned well past analysts’ expectations, with 150,000 new positions added in January.
Read Also
Canadian Financial Close: Loonie drops, new record for TSX
Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Friday but still ended the week slightly higher than the last….
Benchmark crude oil prices were higher on Friday after Russia announced production cuts in retaliation over economic sanctions placed against it. As well, OPEC+ stated it will not boost their output to cover the shortfalls from its oil ally.
Brent crude oil advanced US$2.00 at US$86.50 per barrel and West Texas Intermediate (WTI) gained US$1.75 at US$79.81. Western Canadian Select (WCS) rose US$1.86 at US$61.13.
The TSX Composite Index finished Thursday nudging up 14.37 points at 20,612.12.
Gold was down US$3.20 at US$1,875.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.26 Farmers Edge Inc. up $ 0.02 at $ 0.27 Linamar Corp. dn $ 2.16 at $ 71.82 Maple Leaf Foods up $ 0.06 at $ 26.21 Nutrien Ltd. up $ 1.10 at $106.86 Ritchie Bros Auctioneers Inc. dn $ 1.35 at $ 84.15
(All figures are in Canadian dollars.)
