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Canadian Financial Close: Loonie bounces back ahead of long weekend

Crude oil, gold push higher, TSX down

By MarketsFarm WINNIPEG, July 31 (MarketsFarm) – The Canadian dollar was slightly higher on Friday, benefitting from the Statistics Canada report on the economy. The loonie finished at US$0.7460 or US$1=C$1.3404, compared to Thursday when it closed at US$0.7445 or US$1=C$1.3432. The federal agency’s report said the Canadian economy grew 4.5 per cent in May […] Read more

ICE canola rises with soyoil at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 31 (MarketsFarm) – The ICE Futures canola market was stronger at midday Friday, as a rally in Chicago Board of Trade soyoil provided spillover support. Speculative fund buying added to the gains, as canola retested its nearby highs. However, resistance was holding to the upside, with the November contract […] Read more

ICE canola futures: Prices slightly higher Friday morning

By Marlo Glass, MarketsFarm WINNIPEG, July 31 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady to higher on Friday morning, bouncing back from losses incurred yesterday. Strength in Chicago soyoil was a supportive factor for canola prices. Nearby Chicago soyoil contracts were stronger by about a third of a cent in early morning […] Read more

Canadian Dollar and Business Outlook: Loonie remains firm

Economy grew 4.5 per cent in May

By MarketsFarm WINNIPEG, July 31 (MarketsFarm) – The Canadian dollar was steady Friday morning, despite gains in crude oil and a positive economic report from Statistics Canada. As of 8:37 CDT, the Canadian dollar was at US$0.7447 or C$1.3428, compared to Thursday’s close of US$0.7445 or C$1.3432. Statistics Canada said the country’s economy grew by […] Read more

Global Markets: Hong Kong to delay election one year

By MarketsFarm WINNIPEG, July 31 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Hong Kong’s upcoming September Legislative Council election will be delayed for a year, after current chief executive Carrie Lam invoked emergency measures amid concerns over the COVID-19 pandemic. The delay is seen as […] Read more

U.S. livestock: Cattle futures close higher on strong export data

Chicago | Reuters – U.S. live cattle futures closed higher on Thursday for a third straight day, buoyed by strong weekly beef export sales and signs of firming cash cattle prices, traders said. Chicago Mercantile Exchange (CME) August live cattle futures settled up 0.275 cent at 101.725 cents per pound while most-active October rose 0.700 […] Read more