Canadian Financial Close: C$ strengthens Wednesday

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger on Wednesday, finding support from gains in crude oil and global equity markets.

The Canadian dollar settled at US$0.7424 or US$1=C$1.3469 on Wednesday, which compares with Tuesday’s close of US$0.7404 or US$1=C$1.3506.

Canada’s international trade balance moved from a surplus of C$1.1 billion in November to a deficit of C$312 million in December, according to a report from Statistics Canada, as exports declined by 1.9 per cent and imports edged up by 0.2 per cent.

Crude oil was stronger on Wednesday, with West Texas Intermediate crude oil up by 1.04 per cent at US$74.07 per barrel.

The TSX Composite Index was up by 11.44 points to close at 20,969.18 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-dn  $ 0.01    at $  2.22

Linamar Corp.——————–up  $ 1.76    at $ 67.34

Maple Leaf Foods—————–up  $ 0.22    at $ 26.22

Nutrien Ltd.———————dn  $ 1.07    at $ 66.91

RB Global Inc.——————-up  $ 1.31    at $ 90.83

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

(All figures are in Canadian dollars.)