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Canadian Financial Close: Hovering around 75 U.S. cents, loonie remains unchanged

By MarketsFarm

WINNIPEG, March 14 (MarketsFarm) – The Canadian dollar was unchanged at market close on Thursday, as the Toronto Stock Exchange (TSX) and gold prices fell.

The dollar finished Thursday at US$0.7504 or US$1=C$1.3327.

The TSX slipped 62.42 points to finish Thursday at 16,087.55 points as prices for material companies lost ground.

The federal Liberal government could have approximately C$5 billion extra in revenue for Finance Minister Bill Morneau’s March 19 budget, according to a report. Good economic growth for most of 2018 has provided the extra revenue. Faced with a less than rosy economic outlook for much of 2019, the additional revenue could prove helpful for the Liberals in October’s federal election.

The TD Bank forecast a cut in the Bank of Canada’s key interest rates in 2019 and a freeze in rates throughout 2020, according to a report.

Benchmark oil prices were mixed on Thursday. Brent crude oil lost 41 cents to close at US$67.14 per barrel. West Texas Intermediate crude oil was up 25 cents to close at US$58.51 per barrel.

Gold was down US$13.70 on Thursday to US$1,295.60 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients up $ 0.01 at $ 17.79
Buhler Industries unchanged at $ 3.61
Linamar Corp. dn $ 0.15 at $ 47.78
Maple Leaf Foods dn $ 0.50 at $ 26.75
Nutrien Ltd. dn $ 0.13 at $ 71.55
Ritchie Bros Auctioneers Inc. up $ 0.25 at $ 45.29
Rocky Mountain Dealerships Inc. up $ 0.06 at $ 8.80
(All figures are in Canadian dollars.)

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