Canadian Financial Close: Loonie finds some strength in crude oil
Francine threatening Gulf of Mexico oil facilities
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was a pinch higher on Wednesday due to gains in crude oil.
The loonie closed at US$0.7359 or US$1=C$1.3589, compared to Tuesday’s finish of US$0.7353 or US$1=C$1.3599. On the U.S. Dollar Index, the greenback added 0.100 of a point at 101.340.
Benchmark crude oil prices climbed upward on Wednesday, due to growing concerns over Hurricane Francine reducing production along the Gulf of Mexico.
Brent crude oil gained US$1.38 at US$70.57 per barrel and West Texas Intermediate was up US$1.46 at US$67.21.
The TSX Composite Index rose 208.08 points on Wednesday to close at 23,211.17.
Gold gave up US$2.80 at US$2,541.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.40 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.83 at $ 60.37 Maple Leaf Foods up $ 0.02 at $ 21.94 Nutrien Ltd. up $ 0.40 at $ 61.95 RB Global Inc. up $ 0.50 at $114.82
(All figures are in Canadian dollars)
