Canadian Financial Close: C$ weakens on reduced risk appetite

By MarketsFarm

WINNIPEG, May 12 (MarketsFarm) – The Canadian dollar was weaker on Thursday, hitting a fresh 18-month low relative to its United States counterpart as a reduced appetite for risk internationally weighed on the currency.
The Canadian dollar closed at US$0.7669 or US$1=C$1.3039 on Thursday, which compares with Wednesday’s North American close of US$0.7710 or US$1=C$1.2970.
The U.S. dollar index hit its highest levels in two decades amid concerns over rising inflation and interest rates.
Gains in crude oil helped temper the declines in the energy-linked Canadian currency, with the ongoing conflict in Ukraine behind some of the strength in the energy sector. West Texas Intermediate crude oil was up by 0.95 per cent, at US$106.72 per barrel.
The TSX Composite Index was weaker, down 138.20 points, or 0.70 per cent, to close at 19,699.05 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.55
Linamar Corp.——————–up $ 1.74 at $ 48.42
Maple Leaf Foods—————–up $ 0.34 at $ 26.79
Nutrien Ltd.———————dn $ 1.74 at $124.43
Ritchie Bros Auctioneers Inc.—-up $ 1.03 at $ 76.82
Farmers Edge Inc.—————-up $ 0.11 at $ 2.81

(All figures are in Canadian dollars.)