WINNIPEG – After the Canadian dollar closed above 83 United States cents on Tuesday for the first time since May 2015, it slipped below the mark on Wednesday.
The loonie was at US$0.8297 or US$1=C$1.2052 on Tuesday, down from Tuesday’s close at US$0.8306 or US$1=C$1.2040. Meanwhile, the United States Dollar Index increased 0.08 to 89.91 points.
Benchmark crude oil prices continued to rally on Wednesday as OPEC+ forecast tightening supply and increasing demand. Brent crude oil gained US$1.07 per barrel to US$71.32. West Texas Intermediate (WTI) crude oil rose US$1.06 to US$68.78/barrel. Western Canadian Select (WCS) crude oil advanced US$1.33 to US$54.78/barrel.
The TSX Composite Index crossed the 20,000-point mark for the second straight day on Wednesday before pulling back. At the end of the day, it closed at 19,971.15 points, down 4.86.
Gold increased US$8.04 to US$1,908.48 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.52
Farmer’s Edge Inc. up $ 0.32 at $ 9.95
Linamar Corp. dn $ 2.41 at $ 80.35
Maple Leaf Foods up $ 0.26 at $ 26.79
Nutrien Ltd. dn $ 0.83 at $ 75.82
Ritchie Bros Auctioneers Inc. up $ 0.98 at $ 72.87
(All figures are in Canadian dollars.)
