WINNIPEG – The Canadian dollar had a slight decline on Wednesday.
The loonie closed at US$0.7513 or US$1=C$1.3311, down from US$0.7524 or US$1=C$1.3290 on Tuesday. Earlier today, Statistics Canada (StatCan) reported that Canada’s annual inflation rate held steady in October compared to the previous month at 6.9 per cent. However, gasoline prices jumped by 9.2 per cent.
The United States Dollar Index declined 0.13 of a point at 106.28.
Crude oil prices were lower on Wednesday with a reduced global demand outlook outweighing events including a rocket hitting a Polish village near the Ukrainian border and the bombing of an oil tanker off the coast of Oman. Brent crude oil dropped US$1.23 per barrel to US$92.63. West Texas Intermediate (WTI) crude oil fell US$1.61 at US$85.31/barrel. Western Canadian Select (WCS) was down US$1.16/barrel to US$57.01.
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The TSX/S&P Composite Index shed 36.82 points to 19,957.96.
Gold increased US$0.80 at US$1,777.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 1.85
Farmer’s Edge Inc. dn $ 0.01 at $ 0.35
Linamar Corp. up $ 0.62 at $ 64.59
Maple Leaf Foods dn $ 0.15 at $ 24.08
Nutrien Ltd. dn $ 2.04 at $103.61
Ritchie Bros Auctioneers Inc. dn $ 0.71 at $ 74.56
(All figures are in Canadian dollars.)
