Canadian Financial Close: Loonie hits seven-week high

Glacier FarmMedia | MarketsFarm – The Canadian dollar climbed to its highest close since Dec. 16, but ended Wednesday just shy of 70 United States cents.

The loonie closed at US$0.6995 or US$1=C$1.4295, higher than US$0.6971 or US$1=C$1.4345 on Tuesday. The U.S. Dollar Index lost 0.37 points at 107.59.

Crude oil dropped due to large builds in United States inventories. Brent crude oil tumbled US$1.53 at US$74.67 per barrel. West Texas Intermediate fell US$1.57 at US$71.13/barrel.

The TSX/S&P Composite Index surged 290.49 points at 25,569.84.

Gold advanced $5.30 per ounce at US$2,881.10.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  3.45

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 1.92     at $ 55.72

Maple Leaf Foods                 up  $ 0.13     at $ 21.67

Nutrien Ltd.                     dn  $ 1.57     at $ 74.12

RB Global Inc.                   up  $ 0.77     at $127.54

(All figures are in Canadian dollars.)