By Commodity News Service Canada
WINNIPEG, Jan. 30 (CNS Canada) – The Canadian dollar was up at market close Wednesday with the Toronto Stock Exchange.
The dollar finished the day at US$0.7580 or US$1=C$1.3292, which compares with Tuesday’s close of US$0.7538 or C$1.3266.
The S&P/TSX Composite Index closed Wednesday with a gain of 21.41 points at 15,484.44 points. The TSX was in line with the upswing on the markets in the United States.
The Dow Jones leapt 434.90 points finishing Wednesday at 25,014.86 points. The NASDAQ gained 154.79 points at 7,183.08 points and the S&P 500 rose by 41.05 points at 2,681.05 points.
Propelling the market increases on Wednesday were comments from top officials with the U.S. Federal Reserve who said they will be more patient and flexible when considering interest rate moves, including no changes today to the current rates in place. Also, Fed chairperson Jerome Powell said the case for raising interest rates has weakened, given the increased uncertainty about the U.S. economic outlook.
Oil was up on Wednesday as West Texas Intermediate crude oil gained 98 cents to close at US$54.29 per barrel.
Gold was up by US$8.90 on Wednesday to US$1,324.10 per ounce.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients———dn $ 0.12 at $ 16.61
Buhler Industries—————-dn $ 0.05 at $ 3.61
Linamar Corp.——————–up $ 0.85 at $ 50.60
Maple Leaf Foods—————–dn $ 0.05 at $ 29.37
Nutrien Ltd.———————dn $ 0.07 at $ 68.40
Ritchie Bros Auctioneers Inc.—-dn $ 0.46 at $ 47.27
Rocky Mountain Dealerships Inc.–up $ 0.17 at $ 8.76
(All figures are in Canadian dollars.)