WINNIPEG, Nov. 26 (MarketsFarm) – The Canadian dollar was steady on Thursday, as the rally in global benchmark crude oil lost steam.
The dollar finished at US$0.7685 or US$=C$1.3013 compared to Wednesday’s close of US$0.7691 or US$1=C$1.3003.
Markets in the United States were closed for the Thanksgiving holiday.
Benchmark crude oil prices were slightly lower on Thursday, due to disagreements within OPEC+ regarding production cuts. The alliance is set to meet Friday to discuss extending current cutbacks past January. The surge of COVID-19 has raised concerns the market could plummet as it did this spring, if curtailments are not maintained.
Brent crude oil lost 81 cents at US$47.80 per barrel. West Texas Intermediate (WTI) crude oil dropped 72 cents at US$41.91 per barrel. Meanwhile, Western Canadian Select (WCS) crude oil gained US$1.36 at US$34.62 per barrel.
The TSX Composite Index rose 38.27 points on Thursday to finish at 17,351.34.
Gold was up US$7.56 at US$1,815.12 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.18 at $ 2.48
Linamar Corp. dn $ 0.48 at $ 60.76
Maple Leaf Foods up $ 0.14 at $ 26.15
Nutrien Ltd. up $ 0.20 at $ 63.30
Ritchie Bros Auctioneers Inc. up $ 0.93 at $ 88.51
Rocky Mountain Dealerships Inc. dn $ 0.01 at $ 7.07
(All figures are in Canadian dollars.)
Futures Prices as of November 26, 2020
Prices are in Canadian dollars per metric ton