WINNIPEG – The Canadian dollar fell further below 83 United States cents on Thursday for its biggest one-day drop in six weeks due to promising economic data from the U.S.
The loonie was at US$0.8262 or US$1=C$1.2103 on Thursday, down from Wednesday’s close at US$0.8297 or US$1=C$1.2052. Meanwhile, the United States Dollar Index jumped 0.57 points to 90.48. The U.S. Labor Department reported less than 400,000 new unemployment claims — 385,000 for the week ended May 29 — for the first time since the start of the COVID-19 pandemic.
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Benchmark crude oil prices were mixed on Thursday. Brent crude oil lost one cent per barrel to US$71.34. West Texas Intermediate (WTI) crude oil gained four cents to US$68.87/barrel. Western Canadian Select (WCS) crude oil pulled back US$0.41 to US$54.37/barrel.
The TSX Composite Index reversed further from the 20,000-point mark, declining 29.76 points to 19,941.39.
Gold fell US$37.29 per ounce to US$1,871.09 due to the positive economic numbers from the U.S.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.02 at $ 3.50
Farmer’s Edge Inc. up $ 0.63 at $ 10.58
Linamar Corp. up $ 1.59 at $ 81.94
Maple Leaf Foods dn $ 0.08 at $ 26.71
Nutrien Ltd. up $ 0.03 at $ 75.85
Ritchie Bros Auctioneers Inc. dn $ 0.44 at $ 72.43
(All figures are in Canadian dollars.)
