Canadian Financial Close: Loonie benefits from declines in US dollar
Losses in crude oil cap increases
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar closed higher on Wednesday, as its United States counterpart weakened with the gains tempered by losses in crude oil.
The loonie closed at US$0.7250 or US$1=C$1.3794, compared to Tuesday’s finish of US$0.7235 or US$1=C$1.3821. On the U.S. Dollar Index, the greenback pulled back 0.295 of a point at 105.770.
Benchmark crude oil prices fell on Wednesday, as technical selling weighed on values.
Brent crude oil lost US$2.62 at US$87.40 per barrel and West Texas Intermediate gave up US$2.61 at US$82.75.
The TSX Composite Index bumped up 13.18 points on Wednesday, to close at 21,656.05.
Gold dropped US$19.40 at US$2,388.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.29 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.69 at $ 64.48 Maple Leaf Foods unchanged at $ 23.09 Nutrien Ltd. dn $ 0.07 at $ 71.32 RB Global Inc. dn $ 0.53 at $100.78
(All figures are in Canadian dollars)
