Canadian Financial Close: C$ strengthens Wednesday

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly stronger on Wednesday as currency markets reacted to updated inflation data out of the United States.

The Canadian dollar settled at US$0.7293 or US$1=C$1.3711 on Wednesday, which compares with Tuesday’s close of US$0.7287 or US$1=C$1.3723.

Annual inflation in the U.S. dipped to its lowest level in more than three years in July, with the 2.9 per cent year-on-year increase in consumer prices down from 3.0 per cent the previous month, according to a report from the country’s Labor Department.

Crude oil was weaker, with West Texas crude oil down by

1.60 per cent at US$77.10 per barrel.

The TSX Composite Index gained 141.83 points to close at 22,760.01 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.05

Linamar Corp.——————–dn  $ 0.88    at $ 61.59

Maple Leaf Foods—————–up  $ 0.09    at $ 23.00

Nutrien Ltd.———————dn  $ 0.78    at $ 62.97

RB Global Inc.——————-up  $ 1.93    at $109.84

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

(All figures are in Canadian dollars.)