Canadian Financial Close: Loonie, crude oil make gains

Glacier FarmMedia MarketsFarm – The Canadian dollar moved towards the 74 United States cent mark on Wednesday.

The loonie closed at US$0.7392 or US$1=C$1.3528, compared to US$0.7363 or US$1=C$1.3582 on Tuesday. The Bank of Canada (BoC) announced earlier today it will leave its key interest rate unchanged at five per cent.

The U.S. Dollar Index was down 0.42 of a point at 103.38.

Crude oil prices were higher on Wednesday after Saudi Arabia unexpectedly raised prices for Asian buyers. Brent crude oil rose US$0.88 at US$82.92 per barrel. West Texas Intermediate (WTI) climbed US$0.98 higher at US$79.13/barrel.

The TSX/S&P Composite Index gained 68.03 points at 21,593.96.

Gold added US$11.30 at US$2,153.20 per ounce, after hitting another all-time high on Wednesday.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.17

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.37     at $ 63.55

Maple Leaf Foods                 up  $ 0.15     at $ 22.85

Nutrien Ltd.                     up  $ 1.67     at $ 70.91

RB Global Inc.                   dn  $ 1.86     at $101.31

(All figures are in Canadian dollars.)