Canadian Financial Close: Loonie, U.S. dollar index hit multi-week highs

Glacier FarmMedia | MarketsFarm – For the first time in more than a month, the Canadian dollar ended Wednesday above the 70 United States cent mark.

The loonie finished at US$0.7009 or US$1=C$1.4268, compared to Tuesday’s close of US$0.6995 or US$1=C$1.4296. It was the loonie’s highest close since Feb. 24.

The U.S. Dollar Index reached its highest level in three weeks, adding 0.38 of a point at 104.57.

Crude oil was higher due to tightening supply in the U.S. and the Trump administration’s plans to impose tariffs on other nations importing Venezuelan oil. Brent crude oil gained US$0.82 at US$73.84 per barrel. West Texas Intermediate increased US$0.72 at US$69.72/barrel.

The TSX/S&P Composite Index lost 178.45 points at 25,161.06 after a large gain on Tuesday.

Gold dipped US$1.70 per ounce at $3,024.20.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up  $ 0.01     at $  7.27

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.62     at $ 53.06

Maple Leaf Foods                 dn  $ 0.12     at $ 24.69

Nutrien Ltd.                     up  $ 0.50     at $ 72.12

RB Global Inc.                   dn  $ 0.19     at $143.20

(All figures are in Canadian dollars.)