WINNIPEG – The Canadian dollar fell on Wednesday after the United States dollar bounced back and oil prices made modest gains.
The loonie was at US$0.8258 or US$1=C$1.2110 on Wednesday, down from Tuesday’s close at US$0.8294 or US$1=C$1.2057. Meanwhile, the U.S. Dollar Index surpassed the 90-point mark, rising by 0.40 to 90.04.
Benchmark crude oil prices slightly increased on Wednesday. Brent crude oil gained US$0.17 per barrel to US$68.82. West Texas Intermediate (WTI) crude oil edged upward by US$0.09 to US$66.16/barrel. Western Canadian Select (WCS) crude oil jumped by US$0.43 to US$52.12/barrel. Earlier today, two seats on ExxonMobil’s board were won by climate activist investor Engine No. 1 and a Dutch court ruled that Royal Dutch Shell PLC must cut its own carbon emissions by 45 per cent below 2019 levels by 2030.
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The TSX Composite Index surged on Wednesday, rising by 181.35 points to 19,745.47 after concerns regarding U.S. inflation were eased.
Gold dipped by US$2.98 to US$1,896.27 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.21 at $ 3.70
Farmer’s Edge Inc. up $ 0.35 at $ 10.25
Linamar Corp. up $ 1.56 at $ 75.99
Maple Leaf Foods up $ 0.15 at $ 26.93
Nutrien Ltd. up $ 1.08 at $ 73.90
Ritchie Bros Auctioneers Inc. dn $ 0.28 at $ 73.83
(All figures are in Canadian dollars.)
