Canadian Financial Close: More gains for loonie
Riding the declines in the U.S. greenback
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar rose by almost two-tenths of a cent on Wednesday, as it continued to benefit from the declines in its United States counterpart.
The loonie closed at US$0.7357 or US$1=C$1.3592, compared to Tuesday’s finish of US$0.7338 or US$1=C$1.3627. On the U.S. Dollar Index, the greenback gave up 0.234 of a point at 101.065, hitting a seven-and-a-half-month low.
Benchmark crude oil prices gave up earlier gains on Wednesday, to finish lower due to an algorithmic-led selloff. This came despite smaller U.S. inventories and concerns over no cease-fire deal between Israel and Hamas.
Brent crude oil lost US$1.20 at US$76.00 per barrel and West Texas Intermediate retreated US$1.34 at US$71.83.
The TSX Composite Index added 84.29 points on Wednesday to close at 23,121.73.
Gold shed US$1.10 at US$2,549.50 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 $ 0.61 at $ 62.85 Maple Leaf Foods up $ 0.16 at $ 22.86 Nutrien Ltd. up $ 1.17 at $ 64.96 RB Global Inc. up $ 0.71 at $114.33
(All figures are in Canadian dollars)
