Canadian Financial Close: C$ weakens with crude oil

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was weaker on Wednesday, as losses in crude oil and uncertainty over monetary policy in the United States weighed on the currency.

The Canadian dollar settled at US$0.7313 or US$1=C$1.3674 on Wednesday, which compares with Tuesday’s close of US$0.7327 or US$1=C$1.3649.

Crude oil was pressured by rising U.S. inventories, with West Texas Intermediate crude oil down 1.68 per cent at US$77.34 per barrel.

The TSX Composite Index lost 121.40 points to close at 22,346.76 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.17

Linamar Corp.——————–dn  $ 0.34    at $ 71.02

Maple Leaf Foods—————–dn  $ 0.52    at $ 23.19

Nutrien Ltd.———————up  $ 1.31    at $ 82.60

RB Global Inc.——————-up  $ 1.01    at $104.11

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

(All figures are in Canadian dollars.)