Canadian Financial Close: C$ weakens

By MarketsFarm

WINNIPEG, Sept. 21 (MarketsFarm) – The Canadian dollar was weaker on Thursday, as broad strength in the United States dollar internationally weighed on the domestic currency as the U.S. Federal Reserve was seen taking a more hawkish stance on monetary policy going forward.

The Canadian dollar settled at US$0.7415 or US$1=C$1.3423 on Thursday, which compares with Wednesday’s close of US$0.7450 or US$1=C$1.3423.

Canada’s unemployment rate edged up by 0.1 percentage point in July, hitting 5.5 per cent, according to a report from Statistics Canada, as the number of people receiving regular Employment Insurance benefits increased by 6.0 per cent to 438,000.

In a separate report, Statistics Canada reported that the country’s New Housing Price Index was up by 0.1 per cent in August compared to the previous month, with prices unchanged in 16 of the 27 census metropolitan areas.

Crude oil moved slightly lower, with West Texas Intermediate down by 0.11 per cent at US$89.56 per barrel.

The TSX Composite Index was weaker, losing 423.07 points to close at 19,791.62 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.40

Linamar Corp.——————–dn  $ 2.83    at $ 64.71

Maple Leaf Foods—————–dn  $ 0.46    at $ 27.01

Nutrien Ltd.———————dn  $ 0.89    at $ 83.91

Ritchie Bros Auctioneers Inc.—-dn  $ 1.81    at $ 85.09

Farmers Edge Inc.—————-up  $ 0.01    at $  0.20

(All figures are in Canadian dollars.)