By MarketsFarm
WINNIPEG, Nov. 1 (MarketsFarm) – The Canadian dollar was slightly firmer on Tuesday, with positioning ahead of the United States Federal Reserve’s upcoming interest rate decision behind some of the activity.
The Canadian dollar settled at US$0.7345 or US$1=C$1.3614 on Tuesday, which compares with Monday’s close of US$0.7327 or US$1=C$1.3649.
It’s generally expected that the U.S. Fed will up interest rates by 75 basis points on Wednesday, although some market participants think the hike could match the Bank of Canada’s 50-point hike of a week ago.
Crude oil was stronger on Tuesday, with West Texas Intermediate crude oil up by 2.02 per cent at US$88.28 per barrel.
The TSX Composite Index was stronger, up 91.57 points or 0.47 per cent to close at 19,517.71 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 1.97
Linamar Corp.——————–up $ 0.51 at $ 58.82
Maple Leaf Foods—————–up $ 0.37 at $ 20.56
Nutrien Ltd.———————up $ 1.79 at $116.90
Ritchie Bros Auctioneers Inc.—-dn $ 0.22 at $ 88.78
Farmers Edge Inc.—————- $ 0.00 at $ 0.44
(All figures are in Canadian dollars.)
