WINNIPEG – The Canadian dollar was weaker on Wednesday, as losses in crude oil amid renewed COVID-19 concerns weighed on the currency.
The Canadian dollar closed at US$0.7358 or US$1=C$1.3591, which compares with Tuesday’s North American close of US$0.7399 or US$1=C$1.3516.
Increasing coronavirus cases, especially in the United States, weighed heavily on world equity markets on Wednesday, as economic recovery may be slower than earlier thought.
Crude oil was down by nearly six per cent, with West Texas Intermediate dropping by more than US$2 per barrel to trade around US$38 per barrel.
The TSX Composite Index was weaker, losing 270.37 points, or 1.74 per cent, to close at 15,294.38 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————- $ 0.00 at $ 2.51
Linamar Corp.——————–dn $ 0.73 at $ 38.53
Maple Leaf Foods—————–dn $ 0.21 at $ 28.55
Nutrien Ltd.———————dn $ 1.97 at $ 45.71
Ritchie Bros Auctioneers Inc.—-up $ 0.55 at $ 55.20
Rocky Mountain Dealerships Inc.–dn $ 0.03 at $ 4.32
(All figures are in Canadian dollars.)
