By MarketsFarm
WINNIPEG, Nov. 12 (MarketsFarm) – The Canadian dollar was lower on Wednesday as stock markets and oil values held strength.
The dollar finished the day at US$0.7548 or US$1=C$1.3249, compared to Tuesday when it closed at US$0.7560 or US$1=C$1.3228.
Financial markets were stronger, despite continued friction between the United States and China regarding their trade deal. According to the Wall Street Journal, U.S. President Donald Trump had previously said that China would buy up to US$50 billion in farm goods annually, but China has not agreed to specific dollar amounts.
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The TSX Composite Index closed higher by 48.61 points at 16,957.99. The S&P 500 gained 2.20 to close at 3,094.04. The Dow Jones finished higher by 92.10 points at 27,783.59. The NASDAQ was down 3.99 to finish at 8,482.10.
Benchmark oil prices were stronger today, although tariff decisions could impact future demand. Brent crude oil was up by 44 cents to close at US$62.50 per barrel. West Texas Intermediate (WTI) crude oil was up by 44 cents to close at US$57.24 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 3.60
Linamar Corp. dn $ 0.01 at $ 44.92
Maple Leaf Foods up $ 0.54 at $ 22.92
Nutrien Ltd. up $ 0.79 at $ 65.54
Ritchie Bros Auctioneers Inc. dn $ 0.42 at $ 55.07
Rocky Mountain Dealerships Inc. up $ 0.08 at $ 6.48
(All figures are in Canadian dollars.)
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