By MarketsFarm
WINNIPEG, Sept. 19 (MarketsFarm) – The Canadian dollar was stronger on Tuesday as updated inflation data came in at the higher end of trade guesses and raised expectations for more interest rate hikes from the Bank of Canada.
The Canadian dollar settled at US$0.7448 or US$1=C$1.3426 on Tuesday, which compares with Monday’s close of US$0.7412 or US$1=C$1.3491.
Canada’s consumer price index was up by 4.0 per cent on an annual basis in August, which compares with the 3.3 per cent inflation reported the previous month. Excluding gasoline, the CPI was up by 4.1 per cent in August.
Crude oil was firmer, but off its session highs, with West Texas Intermediate up by 0.25 per cent at US$91.71 per barrel.
The TSX Composite Index weakened, losing 273.94 points to close at 20,218.89 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.40
Linamar Corp.——————–up $ 0.20 at $ 67.10
Maple Leaf Foods—————–dn $ 0.23 at $ 27.73
Nutrien Ltd.———————up $ 0.01 at $ 84.53
Ritchie Bros Auctioneers Inc.—-dn $ 2.04 at $ 86.46
Farmers Edge Inc.—————-up $ 0.02 at $ 0.21
(All figures are in Canadian dollars.)
