WINNIPEG – The Canadian dollar was ended the week on a low note on Friday.
The loonie closed at US$0.7243 or US$1=C$1.3807, down from US$0.7252 or US$1=C$1.3790 on Thursday, its lowest level since October. Statistics Canada (StatCan) reported earlier today that Canada added 21,800 jobs in February while holding the unemployment rate steady at five per cent. Hourly wages also grew 5.4 per cent year-by-year in February. Federal finance minister Chrystia Freeland said that the next federal budget will be tabled on March 28.
March 12 marks the start of Daylight Saving Time in Canada with clocks moving ahead one hour, except in Saskatchewan and Yukon.
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The United States Dollar Index declined 0.69 of a point at 104.62.
Crude oil made gains on Friday despite hawkish sentiment from the U.S. Federal Reserve. Brent crude oil advanced US$1.00 per barrel to US$82.59. West Texas Intermediate (WTI) added US$0.80 at US$76.52/barrel. Western Canadian Select (WCS) gained US$0.63/barrel to US$60.16.
Losses in the financial sector, headlined by the collapse and receivership of California-based Silicon Valley Bank, caused the TSX/S&P Composite Index to lose 311.80 points to close at 19,774.92.
Gold surged US$37.80 at US$1,872.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.09 at $ 2.50
Farmer’s Edge Inc. up $ 0.02 at $ 0.26
Linamar Corp. dn $ 1.32 at $ 65.12
Maple Leaf Foods dn $ 0.49 at $ 23.50
Nutrien Ltd. dn $ 4.11 at $104.86
Ritchie Bros Auctioneers Inc. dn $ 2.69 at $ 77.72
(All figures are in Canadian dollars.)
