By MarketsFarm
WINNIPEG, Nov. 3 (MarketsFarm) – The Canadian dollar was weaker on Thursday, as global recessionary fears and losses in crude oil weighed on the currency.
The Canadian dollar settled at US$0.7273 or US$1=C$1.3749 on Thursday, which compares with Wednesday’s close of US$0.7337 or US$1=C$1.3630.
Expectations for more interest rate hikes from the United States Federal Reserve, after it raised rates by 75 points on Wednesday, kept the U.S. dollar pointed higher at the expense of other markets – including the Canadian dollar.
Crude oil was weaker on Thursday, with West Texas Intermediate crude oil down by two per cent at US$88.17 per barrel.
The TSX Composite Index was weaker, down 35.79 points or 0.19 per cent to close at 19,241.22 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-up $ 0.03 at $ 2.00
Linamar Corp.——————–dn $ 0.78 at $ 58.10
Maple Leaf Foods—————–dn $ 0.09 at $ 20.16
Nutrien Ltd.———————dn $15.90 at $ 97.93
Ritchie Bros Auctioneers Inc.—-up $ 0.61 at $ 85.38
Farmers Edge Inc.—————-dn $ 0.02 at $ 0.42
(All figures are in Canadian dollars.)
