By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar jumped 1.25 cents on Thursday, benefitting from the fallout over the reciprocal tariffs announced by United States President Donald Trump on Wednesday.
The loonie closed Thursday at US$0.7108 or US$1=C$1.4069, compared to Wednesday’s finish of US$0.6983 or US$1=C$1.4320. On the U.S. Dollar Index, the greenback gave up 1.691 points at 101.800.
On the so-called ‘Liberation Day,’ Trump said he will impose a 10 per cent baseline tariff on all countries, as well as a 25 per cent levy on automobile imports, and various levels of duties depending on the country. Canada and Mexico were spared any additional tariffs, aside of those previously applied by the U.S.
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Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Friday but still ended the week slightly higher than the last….
Benchmark crude oil prices were weaker on Thursday, marking their steepest decline in three years due to Trump’s tariffs and OPEC+ planning to boost its output next month.
Brent crude oil fell US$5.04 at US$69.91 per barrel and West Texas Intermediate dropped US$5.03 at US$66.68.
The TSX Composite Index retreated 971.41 points, or 3.84 per cent on Thursday, closing at 25,335.77. Also, the Dow Jones lost 3.98 per cent, the S&P 500 gave up 4.84 per cent and the Nasdaq plummeted 5.97 per cent.
Gold dropped US$34.80 at US$3,131.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 7.29 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 3.20 at $ 48.54 Maple Leaf Foods up $ 0.17 at $ 25.62 Nutrien Ltd. dn $ 0.11 at $ 71.42 RB Global Inc. dn $ 6.41 at $138.14
(All figures are in Canadian dollars)
