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.)