By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar pulled back on Friday, unable to shake off a lackluster unemployment report and a stronger United States dollar.
The loonie finished at US$0.7305 or US$1=C$1.3690, compared to Thursday’s close of US$0.7321 or US$1=C$1.3659.
Statistics Canada reported that unemployment in the country inched up to seven per cent in May as employment levels remained relatively steady as the population increased.
Meanwhile, the U.S. Dollar Index climbed 0.436 of a point at 99.140, as the Department of Labor there said unemployment last month held at 4.2 per cent.
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Glacier FarmMedia — The Canadian dollar was slightly softer Tuesday morning, as currency markets reacted to the latest inflation data….
Benchmark crude oil prices were higher on Friday after a slow start. That U.S. jobs report and forthcoming talks between the U.S. and China bolstered the market.
Brent crude gained US$1.16 at US$66.50 per barrel and West Texas Intermediate added US$1.28 at US$64.65.
The TSX Composite Index rose 86.84 points on Friday, to close at 26,429.13.
Gold dropped US$43.80 at US$3,331.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 7.29 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.57 at $ 62.14 Maple Leaf Foods dn $ 0.42 at $ 27.34 Nutrien Ltd. dn $ 0.55 at $ 81.84 RB Global Inc. up $ 0.21 at $144.06
(All figures are in Canadian dollars)
