Canadian Financial Close: More declines for loonie
Pressure from upticks in greenback
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar lost nearly three-tenths of a cent on Wednesday, as the United States dollar nudged upward while crude oil eased back.
The Canadian dollar closed at US$0.7367 or US$1=C$1.3574, compared to Tuesday’s finish of US$0.7396 or US$1=C$1.3521. On the U.S. Dollar Index, the greenback added 0.111 of a point at 103.870.
Benchmark crude oil prices eased back on Wednesday, pressured from larger U.S. stockpiles, but concerns about OPEC+ supply cuts kept a lid on further losses.
Brent crude oil shed six cents at US$83.59 per barrel and West Texas Intermediate gave up 46 cents at US$78.41.
The TSX Composite Index lost 75.13 points on Wednesday, closing at 21,243.77.
Gold dipped US$1.00 at US$2,043.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.17 Farmers Edge Inc. unchanged at $ 0.34 Linamar Corp. dn $ 0.39 at $ 66.96 Maple Leaf Foods up $ 0.06 at $ 23.35 Nutrien Ltd. dn $ 0.28 at $ 71.67 RB Global Inc. dn $ 0.46 at $103.44
(All figures are in Canadian dollars)
