Canadian Financial Close: C$ strengthens Wednesday

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger on Wednesday, with positioning ahead of next week’s Bank of Canada policy decision behind some of the activity.

The Canadian dollar settled at US$0.7387 or US$1=C$1.3537 on Wednesday, which compares with Tuesday’s close of US$0.7368 or US$1=C$1.3572.

Gains in crude oil underpinned the energy-linked currency amid ongoing geopolitical tensions. West Texas Intermediate crude oil was up by 0.53 per cent at US$85.60 per barrel.

Gold continued its climb to fresh historical highs, rising 1.55 per cent to hit US$2,296.10 per ounce.

The TSX Composite Index was up by 37.36 points to close at 22,112.46 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-up  $ 0.07    at $  2.16

Linamar Corp.——————–dn  $ 0.73    at $ 70.96

Maple Leaf Foods—————–up  $ 0.76    at $ 23.18

Nutrien Ltd.———————up  $ 1.91    at $ 76.04

RB Global Inc.——————-dn  $ 0.24    at $102.96

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

(All figures are in Canadian dollars.)