Canadian Financial Close: C$ weaker Thursday

By MarketsFarm

WINNIPEG, Oct. 12 (MarketsFarm) – The Canadian dollar weakened relative to its United States counterpart on Thursday as U.S. inflation data beat expectations.

The Canadian dollar settled at US$0.7322 or US$1=C$1.3657 on Thursday, which compares with Wednesday’s close of US$0.7351 or US$1=C$1.3603.

Inflation in the U.S. held steady in September, with the country’s Consumer Price Index up by 3.7 per cent on an annual basis for the second month in a row. The solid inflation data was seen as supporting ideas that the U.S. Federal Reserve will hike interest rates at least one more time this year.

Crude oil saw some choppy activity, with West Texas Intermediate relatively unchanged on the day at US$83.50 per barrel.

The TSX Composite Index was weaker, losing 163.60 points to close at 19,500.24 points.

Canada’s agricultural sector performed as follows:

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

Linamar Corp.——————–dn  $ 1.32    at $ 66.08

Maple Leaf Foods—————–dn  $ 0.66    at $ 25.63

Nutrien Ltd.———————dn  $ 0.61    at $ 81.97

Ritchie Bros Auctioneers Inc.—-up  $ 0.34    at $ 91.94

Farmers Edge Inc.—————-    $ 0.00    at $  0.15

(All figures are in Canadian dollars.)