By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar jumped more than two-thirds of a cent on Thursday, after its United States counterpart was weakened by the latest tariff announcement from President Donald Trump.
The loonie closed Thursday at US$0.7135 or US$1=C$1.4015, compared to Wednesday’s finish of US$0.7067 or US$1=C$1.4150. On the U.S. Dollar Index, the greenback retreated 1.793 points at 100.830.
Trump said levies on imports from China will now be 145 per cent, a 20-point increase from yesterday. The move weighed heavily on the sharp gains made Wednesday when the president announced a 90-day reprieve from his reciprocal tariffs for most countries.
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Glacier FarmMedia | MarketsFarm – The Canadian dollar took a step back after the release of economic news from Statistics Canada….
Benchmark crude oil prices were weaker on Thursday, due to the latest U.S. tariff action against China.
Brent crude pulled back US$2.03 at US$63.45 per barrel and West Texas Intermediate lost US$2.15 at US$60.20.
The TSX Composite Index fell 712.16 points, or three per cent on Thursday, closing at 23,014.87. The Dow Jones reversed course with a loss of 2.50 per cent, the S&P 500 pulled back 3.46 per cent and the Nasdaq tumbled 4.31 per cent.
Gold rose above the tariff turmoil as it surged US$110.60 at US$3,190.00.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 7.29 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.82 at $ 47.41 Maple Leaf Foods dn $ 0.54 at $ 23.18 Nutrien Ltd. dn $ 0.75 at $ 67.57 RB Global Inc. dn $ 2.98 at $132.53
(All figures are in Canadian dollars)
