By MarketsFarm
WINNIPEG, March 16 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, as the country’s annual rate of inflation hit its highest level in more than 30 years.
The Canadian dollar closed at US$0.7861 or US$1=C$1.2721 on Wednesday, which compares with Tuesday’s North American close of US$0.7811 or US$1=C$1.2803.
Canada’s annual rate of inflation came in at 5.7 per cent in February, according to a report from Statistics Canada. That beat expectations and marked the highest level since August 1991.
World equity markets were up on Wednesday amid increased optimism over possible peace talks between Russia and Ukraine.
However, crude oil retreated from earlier gains to move lower. West Texas Intermediate crude oil was down by 1.91 per cent, at US$94.60 per barrel.
The TSX Composite Index was stronger, up 280.99 points, or 1.33 per cent, to close at 21,468.83 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.48
Linamar Corp.——————–up $ 4.32 at $ 57.79
Maple Leaf Foods—————–up $ 0.43 at $ 29.75
Nutrien Ltd.———————dn $ 5.33 at $119.10
Ritchie Bros Auctioneers Inc.—-up $ 0.74 at $ 74.46
Farmers Edge Inc.—————-dn $ 0.03 at $ 2.98
(All figures are in Canadian dollars.)
