Compiled by MarketsFarm
WINNIPEG, Nov. 22 (MarketsFarm) – The Canadian dollar eased back on Wednesday; after Bank of Canada governor Tiff Macklem stated the federal government’s new spending plans were helpful to the central bank’s monetary policy.
The loonie closed at US$0.7287 or US$1=C$1.3723, compared to Tuesday’s finish of US$0.7300 or US$1=C$1.3698. On the United States Dollar Index, the greenback rose 0.331 of a point at 103.780.
Benchmark crude oil prices were lower on Wednesday, due to uncertainty generated in the market from OPEC+ postponing its summit from Nov. 26 to now Nov. 30, which raised questions about the alliance’s plans for further production cuts.
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Brent crude oil gave up 82 cents at US$81.63 per barrel, and West Texas Intermediate was down US$1.05 at US$76.72.
The TSX Composite Index was flat on Wednesday, inching up 3.99 points to close at 20,113.96.
Gold lost US$9.70 at US$1,991.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 2.23 Farmers Edge Inc. up $ 0.005 at $ 0.245 Linamar Corp. dn $ 0.10 at $ 57.56 Maple Leaf Foods up $ 0.54 at $ 25.04 Nutrien Ltd. dn $ 1.12 at $ 75.98 Rb Global Inc. up $ 0.85 at $ 85.17
(All figures are in Canadian dollars)
