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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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)
