Canadian Financial Close: C$ weakens

By MarketsFarm

WINNIPEG, Oct. 31 (MarketsFarm) – The Canadian dollar was slightly weaker on Monday, as losses in crude oil and positioning ahead of the United States Federal Reserve’s upcoming interest rate decision weighed on the currency.
The Canadian dollar settled at US$0.7327 or US$1=C$1.3649 on Tuesday, which compares with Friday’s close of US$0.7345 or US$1=C$1.3615.
It’s generally expected that the U.S. Fed will up interest rates by 75 basis points on Wednesday, although some market participants think the hike could match the Bank of Canada’s 50-point hike of a week ago.

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Meanwhile, crude oil was pressured by softer-than-expected economic data out of China and expectations for increased U.S. production. West Texas Intermediate crude oil was down by 1.96 per cent at US$86.18 per barrel.
The TSX Composite Index was weaker, down 45.05 points or 0.23 per cent to close at 19,426.14 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 1.71
Linamar Corp.——————–up $ 0.13 at $ 58.31
Maple Leaf Foods—————–dn $ 0.77 at $ 20.19
Nutrien Ltd.———————up $ 3.02 at $115.11
Ritchie Bros Auctioneers Inc.—-dn $ 0.77 at $ 89.00
Farmers Edge Inc.—————-dn $ 0.05 at $ 0.44

(All figures are in Canadian dollars.)