Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Feb. 23 (MarketsFarm) – The Canadian dollar nudged upward on Wednesday, despite a stronger United States dollar.
The loonie closed at US$0.7863 or US$1=C$1.2718, compared to Tuesday’s close of US$0.7847 or US$1=C$1.2743.
On the U.S. Dollar Index, the greenback pushed higher by 0.189 of a point at 96.200.
Also, Canadian Prime Minister Justin Trudeau announced he’s revoking the Emergency Measures Act only two days after he secured the House of Commons’ approval for its use.
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Benchmark crude oil prices were slightly higher on Wednesday, after seeing stronger increases earlier in the day. Those gains faded following reports of Russia allegedly launching a cyber-attack on Ukraine’s foreign ministry and state security service, as well some of the country’s financial institutions.
Brent crude oil was up 21 cents at US$97.05 per barrel. West Texas Intermediate (WTI) crude oil bumped up 41 cents at US$92.32 per barrel. Meanwhile, Western Canadian Select (WCS) gained 27 cents at US$79.39 per barrel.
The TSX Composite Index was down on Wednesday, losing 163.65 points to finish at 20,744.17.
Gold rose US$3.40 at US$1,910.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.01
Farmers Edge Inc. up $ 0.45 at $ 3.75
Linamar Corp. dn $ 0.77 at $ 66.33
Maple Leaf Foods dn $ 0.10 at $ 31.72
Ritchie Bros Auctioneers Inc. dn $ 1.75 at $ 64.33
(All figures are in Canadian dollars.)
