By MarketsFarm
WINNIPEG, July 19 (MarketsFarm) – The Canadian dollar edged higher relative to its United States counterpart on Wednesday, although a downturn in crude oil tempered the upside in the energy-linked currency.
The Canadian dollar settled at US$0.7593 or US$1=C$1.3170 on Wednesday, which compares with Tuesday’s close of US$0.7582 or US$1=C$1.3190.
Investment in building construction in Canada declined by 1.2 per cent in May, hitting C$19.9 billion, according to a report from Statistics Canada. The residential sector was down by 1.7 per cent at C$14.0 billion while the non-residential sector held steady at C$5.9 billion.
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Crude oil had moved higher in early activity but retreated to post small losses as weekly U.S. inventories fell by less than expected. West Texas Intermediate was down by 0.51 per cent at US$75.36 per barrel.
The TSX Composite Index was stronger, gaining 114.60 points or 0.56 per cent to close at 20,491.17 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-up $ 0.02 at $ 2.20
Linamar Corp.——————–up $ 0.39 at $ 76.15
Maple Leaf Foods—————–up $ 0.09 at $ 27.04
Nutrien Ltd.———————up $ 1.87 at $ 84.88
Ritchie Bros Auctioneers Inc.—-dn $ 0.71 at $ 81.86
Farmers Edge Inc.—————-up $ 0.03 at $ 0.22
(All figures are in Canadian dollars.)
