Compiled by MarketsFarm
WINNIPEG, June 2 (MarketsFarm) – The Canadian dollar added a little more than a quarter of a cent on Friday, as crude oil prices swung upward. Gains in the United States dollar against other international currencies tempered further increases in the loonie.
The Canadian dollar closed at US$0.7443 or US$1=C$1.3435, compared to Thursday’s finish of US$0.7417 or US$1=C$1.3482. On the U.S. Dollar Index, the greenback added 0.483 of a point at 103.985.
Benchmark crude oil prices moved higher on Friday on speculation of what OPEC+ may do at its meeting in Vienna on Sunday. A production cut is believed to be highly unlikely, but no one ruled out such a move.
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Brent crude oil gained US$2.06 at US$76.34 per barrel and West Texas Intermediate (WTI) rose US$1.85 at US$71.95/barrel.
The TSX Composite Index advanced 352.38 points on Friday at 20,024.63.
Gold plummeted US$30.70 at US$1,964.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.22 Farmers Edge Inc. unchanged at $ 0.18 Linamar Corp. up $ 0.77 at $ 62.36 Maple Leaf Foods up $ 0.72 at $ 26.10 Nutrien Ltd. up $ 1.71 at $ 73.60 Ritchie Bros Auctioneers Inc. up $ 2.79 at $ 73.86
(All figures are in Canadian dollars.)
