By MarketsFarm
WINNIPEG, March 25 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, as the Canadian government comes closer to passing an aid bill to assist Canadians impacted by the COVID-19 pandemic.
The dollar finished the day at US$0.6992 or US$1=C$1.4302, compared to Wednesday when it closed at US$0.6901 or US$1=C$1.4491.
The Canadian Emergency Response Benefit provides C$2,000 per month for up to four months to workers who lost their income due to the COVID-19 pandemic. The benefit is available to those who do qualify for Employment Insurance as well as those who don’t.
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Following the announcement, stock indices showed gains. The TSX Composite Index was up by 568.15 points to close at 13,139.15.
Brent crude oil gained 29 cents to close at US$27.44 per barrel. West Texas Intermediate (WTI) crude oil rose by 23 cents to close at US$24.23 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.56 at $ 3.48
Linamar Corp. up $ 1.77 at $ 27.32
Maple Leaf Foods dn $ 0.90 at $ 20.61
Nutrien Ltd. up $ 1.82 at $ 43.63
Ritchie Bros Auctioneers Inc. dn $ 0.68 at $ 44.34
Rocky Mountain Dealerships Inc. up $ 0.40 at $ 4.00
(All figures are in Canadian dollars.)
