WINNIPEG, March 19 (MarketsFarm) – The Canadian dollar was weaker on Friday, dipping below 80 U.S. cents as the currency remained pressured by Thursday’s sharp declines in crude oil.
The Canadian dollar closed at US$0.7996 or US$1=C$1.2506 on Friday, which compares with Thursday’s North American close US$0.8027 or US$1=C$1.2458.
Canadian retail sales were down by 1.1 per cent in January compared to the previous month, according to a report from Statistics Canada. Pre-report expectations had been for an even larger decline, while early forecasts for February point to a rebound.
West Texas Intermediate crude oil was up by 2.48 per cent at US$61.49 per barrel, recovering some of Thursday’s losses.
The TSX Composite Index was firmer, gaining 17.53 points, or 0.09 per cent, to close at 18,854.00 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.08 at $ 3.39
Linamar Corp.——————–up $ 3.23 at $ 79.70
Maple Leaf Foods—————–up $ 0.60 at $ 28.46
Nutrien Ltd.———————dn $ 0.73 at $ 71.37
Ritchie Bros Auctioneers Inc.—-up $ 1.37 at $ 71.15
Farmers Edge Inc.—————-up $ 0.09 at $ 17.43
(All figures are in Canadian dollars.)