WINNIPEG – The Canadian dollar regained upward momentum on Wednesday to reach a month-long high.
The loonie closed at US$0.7403 or US$1=C$1.3508, up from US$0.7322 or US$1=C$1.3658 on Tuesday. The last time the Canadian dollar closed above 74 United States cents was on Dec. 2, 2022.
The U.S. Dollar Index declined 0.26 of a point at 104.25.
Crude oil prices fell again on Wednesday as COVID-19 continues to spread in China after the country eased its restrictions. Brent crude oil retreated US$4.03 per barrel to US$78.07. West Texas Intermediate (WTI) crude oil dropped US$3.71 at US$73.22/barrel. Western Canadian Select (WCS) lost US$4.49/barrel to US$46.24.
The TSX/S&P Composite Index gained 145.06 points to 19,588.83.
Gold jumped US$16.10 at US$1,862.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 1.93
Farmer’s Edge Inc. dn $ 0.02 at $ 0.26
Linamar Corp. up $ 0.70 at $ 62.54
Maple Leaf Foods up $ 0.11 at $ 25.20
Nutrien Ltd. dn $ 0.89 at $ 97.01
Ritchie Bros Auctioneers Inc. dn $ 0.70 at $ 78.20
(All figures are in Canadian dollars.)
