Canadian Financial Close: C$ weakens

By MarketsFarm

WINNIPEG, Aug. 18 (MarketsFarm) – The Canadian dollar was weaker on Thursday, as mounting expectations for an interest rate hike in the United States put some pressure on the currency.
The Canadian dollar settled at US$0.7735 or US$1=C$1.2928 on Thursday, which compares with Wednesday’s close of US$0.7745 or US$1=C$1.2912.
U.S. Federal Reserve officials are reportedly leaning towards a 75-point hike in the country’s key overnight rate in September, according to statements from several Fed officials.
The softer tone in the currency came despite gains in crude oil, with West Texas Intermediate crude oil up by 2.79 per cent at US$90.57 per barrel.
The TSX Composite Index was stronger, up 83.93 points or 0.42 per cent to close at 20,265.37 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————-up $ 0.17 at $ 2.00
Linamar Corp.——————–up $ 1.09 at $ 66.15
Maple Leaf Foods—————–up $ 0.12 at $ 23.86
Nutrien Ltd.———————up $ 0.59 at $118.86
Ritchie Bros Auctioneers Inc.—-up $ 0.64 at $ 91.97
Farmers Edge Inc.—————-dn $ 0.04 at $ 0.87

(All figures are in Canadian dollars.)