Canadian Financial Close: C$ firms Thursday

By MarketsFarm

WINNIPEG, Nov. 9 (MarketsFarm) – The Canadian dollar was slightly firmer on Thursday, as currency markets reacted to the latest comments from the United States Federal Reserve.

The Canadian dollar settled at US$0.7256 or US$1=C$1.3781 on Wednesday, which compares with Tuesday’s close of US$0.7248 or US$1=C$1.3797.

The U.S. central bank is in no hurry to raise interest rates anytime soon, as inflation pressures continue to gradually ease, suggested Fed Chair Jerome Powell at a panel discussion on Thursday. However, he also did not rule out another hike.

Crude oil edged higher, with West Texas Intermediate up by 0.28 per cent at US$75.54 per barrel.

The TSX Composite Index was stronger, gaining 57.20 points to close at 19,587.41 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.26

Linamar Corp.——————–dn  $ 3.31    at $ 59.93

Maple Leaf Foods—————–up  $ 0.02    at $ 26.24

Nutrien Ltd.———————up  $ 1.57    at $ 74.97

Ritchie Bros Auctioneers Inc.—-up  $ 1.10    at $ 92.66

Farmers Edge Inc.—————-    $ 0.00    at $  0.11

(All figures are in Canadian dollars.)