By MarketsFarm
WINNIPEG, Feb. 3 (MarketsFarm) – The Canadian dollar was weaker on Friday as currency markets reacted to the latest jobs data out of the United States.
The Canadian dollar settled at US$0.7468 or US$1=C$1.3391 on Thursday, which compares with Thursday’s close of US$0.7512 or US$1=C$1.3312.
Nonfarm payrolls in the U.S. saw an increase of 517,000 jobs in January, which was roughly double the jobs growth from the previous month. The country’s unemployment rate fell to 3.4 per cent, marking its lowest level since 1969. The solid employment data was seen as adding support to expectations for more interest rate increases from the U.S. Federal Reserve.
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Crude oil was weaker, with West Texas Intermediate crude oil down by 3.5 per cent at US$73.22 per barrel.
The TSX Composite Index posted small gains, up 17.90 points or 0.09 per cent to close at 20,758.34 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-dn $ 0.05 at $ 2.05
Linamar Corp.——————–up $ 0.57 at $ 74.12
Maple Leaf Foods—————–up $ 0.30 at $ 26.71
Nutrien Ltd.———————dn $ 1.28 at $111.17
Ritchie Bros Auctioneers Inc.—-up $ 0.99 at $ 83.51
Farmers Edge Inc.—————-up $ 0.03 at $ 0.265
(All figures are in Canadian dollars.)
