By MarketsFarm
WINNIPEG, Oct. 18 (MarketsFarm) – The Canadian dollar was weaker on Wednesday, hitting its lowest level relative to its United States counterpart in two weeks as mounting concerns over a wider Middle Eastern conflict had investors backing away from riskier assets in favour of safe havens like gold and the U.S. dollar.
The Canadian dollar settled at US$0.7307 or US$1=C$1.3685 on Wednesday, which compares with Tuesday’s close of US$0.7328 or US$1=C$1.3647.
The losses in the Canadian dollar came despite gains in crude oil, with West Texas Intermediate up by 1.74 per cent at US$88.17 per barrel.
The TSX Composite Index was weaker, losing 242.10 points to close at 19,450.70 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.51
Linamar Corp.——————–dn $ 1.46 at $ 63.71
Maple Leaf Foods—————–dn $ 0.58 at $ 24.52
Nutrien Ltd.———————dn $ 0.91 at $ 84.09
Ritchie Bros Auctioneers Inc.—-dn $ 2.64 at $ 88.83
Farmers Edge Inc.—————-dn $ 0.015 at $ 0.13
(All figures are in Canadian dollars.)
