Canadian Financial Close: Loonie falls back, crude oil higher

Glacier FarmMedia | MarketsFarm – The Canadian dollar retreated further on Wednesday.

The loonie ended the day at US$0.7233 or US$1=C$1.3826, compared to US$0.7260 or US$1=C$1.3775 on Tuesday. The United States Dollar Index was up 0.36 of a point at 99.88.

Crude oil prices were up after U.S. President Donald Trump authorized Chevron to maintain its operations in Venezuela, but still prohibited the country to export oil to the U.S. Meanwhile, OPEC+ met earlier today to discussed potential output hikes.

West Texas Intermediate gained US$0.74 at US$61.63/barrel, while Brent crude oil added US$0.56 at US$64.65.

The TSX/S&P Composite Index was up 14.45 points at 26,283.45.

Gold was down US$8.10 per ounce at $3,292.30.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.60     at $ 62.01

Maple Leaf Foods                 dn  $ 0.17     at $ 27.07

Nutrien Ltd.                     dn  $ 0.21     at $ 82.40

RB Global Inc.                   up  $ 0.46     at $145.15

(All figures are in Canadian dollars.)