Compiled by MarketsFarm
WINNIPEG, Sept. 27 (MarketsFarm) – The Canadian dollar remained relatively steady despite a strong upswing in the United States dollar on Wednesday and significant hikes in global crude oil prices.
The loonie closed at US$0.7399 or US$1=C$1.3515, compared to Tuesday’s finish of US$0.7402 or US$1=C$1.3509. On the U.S. Dollar Index, the greenback added 0.480 of a point at 106.410.
Benchmark crude oil prices soared on Wednesday after U.S. inventories at Cushing, Oklahoma fell to less than 22 million barrels – the smallest amount since July 2022 and near operational minimums.
Brent crude oil advanced US$2.63 at US$96.59 per barrel, while West Texas Intermediate vaulted US$3.33 at US$93.72, and Western Canadian Select jumped US$3.27 at US$75.95.
The TSX Composite Index lost 120.17 points on Wednesday to close at 19,435.98.
Gold plummeted US$25.60 at US$1,894.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.41 Farmers Edge Inc. unchanged at $ 0.175 Linamar Corp. up $ 0.51 at $ 64.66 Maple Leaf Foods up $ 0.30 at $ 25.91 Nutrien Ltd. up $ 0.17 at $ 84.40 Ritchie Bros Auctioneers Inc. dn $ 0.83 at $ 83.66
(All figures are in Canadian dollars)
