Canadian Financial Close: Greenback, crude oil pull loonie lower
U.S. dollar up as Brent, WTI turn lower
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar kept to its downward trend on Wednesday, pressured by increases in its United States counterpart and by lower crude oil prices.
The loonie closed at US$0.7305 or US$1=C$1.3690, compared to Tuesday’s finish of US$0.7322 or US$1=C$1.3657. On the U.S. Dollar Index, the greenback gained 0.397 of a point at 102.700.
Benchmark crude oil prices stepped back on Wednesday due to larger U.S. supplies outweighing the threat of a growing regional war in the Middle East.
Brent crude oil gave up 54 cents at US$76.64 per barrel and West Texas Intermediate shed 29 cents at US$73.28.
The TSX Composite Index advanced 152.39 on Wednesday to close at 24,224.90.
Gold lost US$9.30 at US$2,626.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.05 at $ 2.45 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.46 at $ 63.84 Maple Leaf Foods up $ 0.12 at $ 22.04 Nutrien Ltd. up $ 0.99 at $ 67.26 RB Global Inc. dn $ 0.23 at $110.86
(All figures are in Canadian dollars)
