WINNIPEG, August 11 (MarketsFarm) – The Canadian dollar nearly reached 80 cents United States on Wednesday on the strength of rising oil prices.
The loonie was at US$0.7996 or US$1=C$1.2506 on Wednesday, up from Tuesday’s close at US$0.7974 or US$1=C$1.2540. The United States Dollar Index was down 0.16 points at 92.90.
Benchmark crude oil prices continued their upward climbs on Wednesday. Brent crude oil gained US$0.91 per barrel to US$71.54. West Texas Intermediate (WTI) crude oil increased US$1.02 to US$69.31/barrel. Western Canadian Select (WCS) crude oil jumped US$1.06 to US$56.16/barrel.
The TSX/S&P Composite Index rose 58.27 points to 20.554.01.
Gold bounced back, surging US$23.34 per ounce to US$1,752.27.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.00
Farmer’s Edge Inc. up $ 0.13 at $ 9.13
Linamar Corp. up $ 0.35 at $ 73.91
Maple Leaf Foods up $ 0.29 at $ 26.24
Nutrien Ltd. dn $ 0.55 at $ 79.60
Ritchie Bros Auctioneers Inc. up $ 1.06 at $ 75.50
(All figures are in Canadian dollars.)
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