Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 10 (MarketsFarm) – The Canadian dollar turned around on Thursday to push higher as its United States counterpart fell sharply.
The loonie closed at US$0.7475 or US$1=C$1.3378, compared to Wednesday’s close of US$0.7418 or US$1=C$1.3480.
On the U.S. Dollar Index, the greenback plummeted 2.580 points at 107.875. The huge drop came after the release of the consumer price index report showed U.S inflation in October was 7.7 per cent, which was lower than what economists expected.
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Benchmark crude oil prices were slightly higher on Thursday, benefitting from the CPI report, but with increases tempered by rising COVID-19 cases in China.
Brent crude oil gained 68 cents at US$93.33 per barrel. West Texas Intermediate (WTI) crude oil edged up 33 cents at US$86.16/barrel. Western Canadian Select (WCS) tacked on US$1.50 at US$57.57/barrel.
The TSX Composite Index jumped 646.11 points to finish Thursday at 19,990.36.
Gold soared upward US$45.40 at US$1,759.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 1.90
Farmers Edge Inc. up $ 0.04 at $ 0.45
Linamar Corp. up $ 4.52 at $ 61.50
Maple Leaf Foods up $ 0.84 at $ 23.40
Nutrien Ltd. dn $ 4.69 at $105.50
Ritchie Bros Auctioneers Inc. up $ 2.11 at $ 70.97
(All figures are in Canadian dollars.)
