By MarketsFarm
WINNIPEG, Aug. 16 (MarketsFarm) – The Canadian dollar was weaker on Wednesday, hitting its softest level in over two months relative to its United States counterpart.
The Canadian dollar settled at US$0.7398 or US$1=C$1.3518 on Wednesday, which compares with Tuesday’s close of US$0.7417 or US$1=C$1.3482.
Wholesale sales in Canada were down by 2.8 per cent in June, hitting C$80.5 billion, according to a report from Statistics Canada. The overall number excluded petroleum products, along with grain and oilseeds, due to a lack of historical data.
Losses in crude oil contributed to the declines in the energy-linked Canadian currency. West Texas Intermediate was down by 2.14 per cent at US$79.26 per barrel.
The TSX Composite Index held near unchanged, losing less than one point to close at 19,899.07 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-up $ 0.08 at $ 2.58
Linamar Corp.——————–dn $ 0.67 at $ 68.92
Maple Leaf Foods—————–up $ 0.31 at $ 30.00
Nutrien Ltd.———————up $ 0.19 at $ 82.97
Ritchie Bros Auctioneers Inc.—-dn $ 0.65 at $ 76.00
Farmers Edge Inc.—————-dn $ 0.015 at $ 0.195
(All figures are in Canadian dollars.)
