Glacier FarmMedia MarketsFarm – The Canadian dollar ended the week with a sharp drop after the release of economic data from Statistics Canada (StatCan).
The loonie closed at US$0.7357 or US$1=C$1.3593, compared to US$0.7394 or US$1=C$1.3525 on Thursday. StatCan reported this morning that retail sales dipped 0.3 per cent in January at C$67 billion. However, core retail sales, excluding gas stations, fuel vendors and motor vehicle and parts makers, were up 0.4 per cent.
The United States Dollar Index jumped 0.99 of a point at 104.42, near its highest level in more than a month.
Crude oil prices were slightly lower on Friday. Brent crude oil was down US$0.15 at US$85.63 per barrel. West Texas Intermediate (WTI) dropped US$0.21 at US$80.86/barrel.
The TSX/S&P Composite Index lost 103.18 points at 21,984.08.
Gold fell US$17.20 at US$2,167.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind.                     up $ 0.06     at $ 2.14
Farmer’s Edge Inc.              dn $ 0.005    at $  0.345
Linamar Corp.                   dn  $ 0.45     at $ 71.69
Maple Leaf Foods                dn  $ 0.09     at $ 23.27
Nutrien Ltd.                    dn  $ 1.49    at $ 71.09
RB Global Inc.                  up  $ 0.34   at $104.70
(All figures are in Canadian dollars.)
