Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 9 (MarketsFarm) – The Canadian dollar stepped back on Wednesday as the United States dollar pushed higher due to uncertainty over the country’s midterm elections.
The loonie closed at US$0.7418 or US$1=C$1.3480, compared to Tuesday’s close of US$0.7440 or US$1=C$1.3441.
On the U.S. Dollar Index the greenback advanced 0.853 of a point at 110.395.
While the Republican Party is poised to take control of the House of Representatives, there were three races left undetermined for the Senate. Presently the Democrats have 48 seats to the Republicans’ 49.
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Benchmark crude oil prices fell back on Wednesday after the U.S. Energy Information Administration (EIA) reported a 3.9-million-barrel uptick in the country’s inventory.
Brent crude oil gave up US$2.92 at US$92.44 per barrel. West Texas Intermediate (WTI) crude oil retreated US$3.28 at US$85.63/barrel. Western Canadian Select (WCS) lost US$4.12 at US$56.07/barrel.
The TSX Composite Index dropped 316.06 points to finish Wednesday at 19,344.25.
Gold was down US$7.80 at US$1,708.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.10 at $ 1.90
Farmers Edge Inc. unchanged at $ 0.41
Linamar Corp. dn $ 1.03 at $ 56.98
Maple Leaf Foods up $ 0.55 at $ 22.56
Nutrien Ltd. dn $ 3.68 at $100.81
Ritchie Bros Auctioneers Inc. up $ 1.15 at $ 68.86
(All figures are in Canadian dollars.)
