By MarketsFarm
WINNIPEG, Jan. 12 (MarketsFarm) – The Canadian dollar was stronger on Thursday, as currency traders reacted to softening inflation data out of the United States.
The Canadian dollar settled at US$0.7475 or US$1=C$1.3378 on Thursday, which compares with Wednesday’s close of US$0.7449 or US$1=C$1.3425.
The U.S. rate of inflation dipped to 6.5 per cent in December from 7.1 per cent the previous month, marking the first slowdown in two-and-a-half years, according to the U.S. Bureau of Labor Statistics.
Gains in crude oil were supportive for the energy-linked Canadian currency. West Texas Intermediate was up by 1.32 per cent at US$78.36 per barrel.
The TSX Composite Index was stronger, up 186.15 points or 0.93 per cent late in the day at 20,211.20 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-up $ 0.09 at $ 1.97
Linamar Corp.——————–up $ 1.02 at $ 65.19
Maple Leaf Foods—————–dn $ 0.08 at $ 26.25
Nutrien Ltd.———————up $ 2.51 at $101.98
Ritchie Bros Auctioneers Inc.—-dn $ 0.93 at $ 79.26
Farmers Edge Inc.—————- $ 0.00 at $ 0.26
(All figures are in Canadian dollars.)
