By MarketsFarm
WINNIPEG, Nov. 2 (MarketsFarm) – The Canadian dollar was slightly weaker on Wednesday, as rising interest rates in the United States weighed on equity markets.
The Canadian dollar settled at US$0.7337 or US$1=C$1.3630 on Tuesday, which compares with Tuesday’s close of US$0.7345 or US$1=C$1.3614.
The U.S. Federal Reserve raised interest rates by 75 points on Wednesday, meeting market expectations. Accompanying comments from Fed Chair Jerome Powell suggested that it was still ‘very premature’ to suggest a slowdown in future rate hikes.
Crude oil was stronger on Wednesday, with West Texas Intermediate crude oil up by 0.97 per cent at US$89.23 per barrel.
The TSX Composite Index was weaker, down 240.70 points or 1.23 per cent to close at 19,277.01 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 1.97
Linamar Corp.——————–up $ 0.06 at $ 58.88
Maple Leaf Foods—————–dn $ 0.31 at $ 20.25
Nutrien Ltd.———————dn $ 3.07 at $113.83
Ritchie Bros Auctioneers Inc.—-dn $ 4.01 at $ 84.77
Farmers Edge Inc.—————- $ 0.00 at $ 0.44
(All figures are in Canadian dollars.)
