Canadian Financial Close: Loonie gains nearly two-tenths

By MarketsFarm

WINNIPEG, Jan. 21 (MarketsFarm) – The Canadian dollar was higher on Thursday, due to economic optimism.

The dollar finished at US$0.7920 or US$1=C$1.2627, compared to Wednesday’s close of US$0.7901 or US$1=C$1.2656.

Benchmark crude oil prices were lower Thursday following a report from the American Petroleum Institute said United States inventories increased rather than decreasing as analysts expected. Losses were tempered by hopes on the new stimulus spending proposed by President Joe Biden.

Brent crude oil slipped seven cents at US$56.01 per barrel. West Texas Intermediate (WTI) crude oil lost 29 cents at US$53.02/barrel.

The TSX Composite Index was down 98.71 points on Thursday to finish at 17,916.20.

Gold was up US$3.60 at US$1,870.10 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.03 at $ 2.65
Linamar Corp. dn $ 0.19 at $ 73.71
Maple Leaf Foods unchanged at $ 25.86
Nutrien Ltd. up $ 0.76 at $ 68.22
Ritchie Bros Auctioneers Inc. up $ 0.25 at $ 79.34
(All figures are in Canadian dollars.)

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