WINNIPEG, March 17 (MarketsFarm) – The Canadian dollar was firm on Wednesday, as currency markets reacted to the latest interest rate announcement from the United States Federal Reserve.
The Canadian dollar was trading at US$0.8022 or US$1=C$1.2466 late Wednesday, which compares with Tuesday’s North American close US$0.8029 or US$1=C$1.2454. The currency had hit a three-year high of US$0.8058 or US$1=C$1.2410 at one point during the session.
The U.S. Fed left its key overnight rate unchanged near zero and was seen as taking a dovish stance on future rate moves.
Crude oil was softer on Wednesday, with West Texas Intermediate crude oil down by 0.43 per cent at US$64.52 per barrel.
The TSX Composite Index was higher, gaining 109.09 points, or 0.58 per cent, to close at 18,983.10 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.16 at $ 3.27
Linamar Corp.——————–dn $ 0.50 at $ 78.04
Maple Leaf Foods—————–up $ 0.20 at $ 27.65
Nutrien Ltd.———————dn $ 0.07 at $ 72.13
Ritchie Bros Auctioneers Inc.—-dn $ 0.47 at $ 69.99
Farmers Edge Inc.—————-dn $ 0.27 at $ 17.43
(All figures are in Canadian dollars.)
