Canadian Financial Close: C$ steady post BoC

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar settled near unchanged on Wednesday, retreating from earlier advances relative to its United States counterpart as the Bank of Canada held interest rates steady.

The Canadian dollar settled at US$0.7416 or US$1=C$1.3484 on Wednesday, which compares with Tuesday’s close of US$0.7419 or US$1=C$1.3478.

The Bank of Canada left its key overnight rate unchanged at 5.0 per cent Wednesday morning, with the accompanying statement showing little sign of future hikes amid expectations for a slowing economy.

Crude oil was stronger on Wednesday, with West Texas Intermediate crude oil up by 1.34 per cent at US$75.37 per barrel.

The TSX Composite Index was down by 8.81 points to close at 21,025.78 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-dn  $ 0.05    at $  2.34

Linamar Corp.——————–dn  $ 0.47    at $ 63.76

Maple Leaf Foods—————–dn  $ 0.26    at $ 26.78

Nutrien Ltd.———————dn  $ 0.15    at $ 69.19

RB Global Inc.——————-dn  $ 1.47    at $ 83.29

Farmers Edge Inc.—————-dn  $ 0.005   at $  0.34

(All figures are in Canadian dollars.)