Canadian Financial Close: C$ holds steady

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar held relatively steady on Thursday, with spillover support from gains in equity markets countered by pressure from losses in crude oil.

The Canadian dollar settled at US$0.7460 or US$1=C$1.3404 on Thursday, which compares with Wednesday’s close of US$0.7464 or US$1=C$1.3397.

The U.S. Federal Reserve left interest rates unchanged on Wednesday as had been expected, but the accompanying statement was deemed as hawkish as it dismissed the likelihood of a rate cut any time soon.

Crude oil had moved higher earlier in the day but ran into resistance with West Texas Intermediate crude oil down by 2.49 per cent at US$73.96 per barrel.

The TSX Composite Index was up by 97.33 points to close at 21,119.21 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.25

Linamar Corp.——————–up  $ 0.76    at $ 64.53

Maple Leaf Foods—————–up  $ 0.32    at $ 25.96

Nutrien Ltd.———————up  $ 2.55    at $ 65.59

RB Global Inc.——————-up  $ 0.87    at $ 86.93

Farmers Edge Inc.—————-dn  $ 0.01    at $  0.34

(All figures are in Canadian dollars.)