By MarketsFarm
WINNIPEG, Feb. 1 (MarketsFarm) – The Canadian dollar showed some modest strength on Wednesday, as investors reacted to the latest interest rate decision out of the United States.
The Canadian dollar settled at US$0.7507 or US$1=C$1.3321 on Wednesday, which compares with Tuesday’s close of US$0.7491 or US$1=C$1.3350.
The U.S. Federal Reserve upped interest rates by 25 basis points, as had been widely anticipated. The accompanying statement indicated that ongoing increases “will be appropriate,” as the Fed continues its efforts to ease inflation.
Losses in crude oil put some pressure on the energy-linked currency. West Texas Intermediate crude oil was down by 2.4 per cent at US$76.93 per barrel.
The TSX Composite Index was weaker, down 16.33 points or 0.08 per cent at the close at 20,751.05 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.08 at $ 2.02
Linamar Corp.——————–up $ 3.89 at $ 71.84
Maple Leaf Foods—————–up $ 0.71 at $ 26.00
Nutrien Ltd.———————up $ 0.98 at $111.12
Ritchie Bros Auctioneers Inc.—-up $ 2.02 at $ 82.48
Farmers Edge Inc.—————-up $ 0.005 at $ 0.235
(All figures are in Canadian dollars.)
