WINNIPEG – The Canadian dollar was steady on Wednesday while crude oil continued its collapse.
The loonie closed at US$0.7344 or US$1=C$1.3616, compared to US$0.7343 or US$1=C$1.3618 on Tuesday.
The United States Dollar Index dropped 0.59 of a point at 101.37 hours after the Federal Reserve announced a 25-basis point hike to its key interest rates. Many analysts believe the Fed will leave the rates unchanged over the next few months.
Crude oil had another down day on the markets due to weakened demand. Brent crude oil fell US$3.37 per barrel to US$71.95. Meanwhile, West Texas Intermediate (WTI) went below the US$70/barrel mark, losing US$3.49 at US$68.17/barrel.
The TSX/S&P Composite Index shed 52.88 points to close at 20,354.68.
Gold gained US$19.70 at US$2,043.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.07 at $ 2.27
Farmer’s Edge Inc. up $ 0.005 at $ 0.18
Linamar Corp. up $ 0.02 at $ 65.10
Maple Leaf Foods up $ 0.06 at $ 27.61
Nutrien Ltd. dn $ 2.30 at $ 91.36
Ritchie Bros Auctioneers Inc. up $ 0.33 at $ 76.68
(All figures are in Canadian dollars.)
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