Canadian Financial Close: BoC to leave key interest rate unchanged

WINNIPEG – The Canadian dollar continued its downturn on Wednesday after an announcement from the Bank of Canada (BoC).

The loonie closed at US$0.7254 or US$1=C$1.3785, down from US$0.7290 or US$1=C$1.3717 on Tuesday. The BoC said earlier today it will keep its key interest rate steady at 4.5 per cent.

The United States Dollar Index increased 0.05 of a point at 105.66.

Crude oil slid further on Wednesday. Brent crude oil dropped US$0.81 per barrel to US$82.48. West Texas Intermediate (WTI) declined US$1.09 at US$76.49/barrel. Western Canadian Select (WCS) fell US$1.20/barrel to US$60.69.

The TSX/S&P Composite Index gained 70.99 points to close at 20,346.53.

Gold gave up US$1.70 at US$1,818.30 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.41

Farmer’s Edge Inc.               up  $ 0.01     at $  0.26

Linamar Corp.                    up  $ 0.77     at $ 77.06

Maple Leaf Foods                 dn  $ 0.21     at $ 27.91

Nutrien Ltd.                     up  $ 2.70     at $112.10

Ritchie Bros Auctioneers Inc.    up  $ 0.21     at $ 82.93

(All figures are in Canadian dollars.)