By MarketsFarm
WINNIPEG, March 18 (MarketsFarm) – The Canadian dollar backed away from three-year highs hit in early activity to settle relatively steady on Thursday.
The Canadian dollar closed at US$0.8027 or US$1=C$1.2458 on Thursday, which compares with Wednesday’s North American close US$0.8022 or US$1=C$1.2465. The currency had traded above 80.6 U.S. cents at one point during the session.
Sharp losses in crude oil put some pressure on the energy-linked currency amid rising concerns over COVID-19 variants around the world.
West Texas Intermediate crude oil was down by 8.27 per cent at US$59.26 per barrel.
The TSX Composite Index was lower, falling 146.63 points, or 0.77 per cent, to close at 18,836.47 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.04 at $ 3.31
Linamar Corp.——————–dn $ 1.57 at $ 76.47
Maple Leaf Foods—————–up $ 0.21 at $ 27.86
Nutrien Ltd.———————dn $ 0.03 at $ 72.10
Ritchie Bros Auctioneers Inc.—-dn $ 0.21 at $ 69.78
Farmers Edge Inc.—————-dn $ 0.09 at $ 17.34
(All figures are in Canadian dollars.)
