Canadian Financial Close: C$ strengthens

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger on Wednesday, as currency markets reacted to rising oil prices and soft economic data out of the United States.

The Canadian dollar settled at US$0.7333 or US$1=C$1.3637 on Wednesday, which compares with Tuesday’s close of US$0.7301 or US$1=C$1.3697.

Crude oil was underpinned by a larger-than-expected decline in U.S. crude stocks, with Texas Intermediate crude oil up by 1.06 per cent at US$83.69 per barrel.

The TSX Composite Index gained 269.87 points to close at 22,223.67 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-up  $ 0.05    at $  2.10

Linamar Corp.——————–up  $ 0.18    at $ 67.03

Maple Leaf Foods—————–dn  $ 0.30    at $ 22.65

Nutrien Ltd.———————up  $ 1.74    at $ 70.07

RB Global Inc.——————-dn  $ 0.32    at $104.33

Farmers Edge Inc.—————-    $ 0.00    at $  0.345

(All figures are in Canadian dollars.)