By MarketsFarm
WINNIPEG, May 11 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, seeing a recovery after hitting its weakest level in 18 months relative to its United States counterpart earlier in the week.
The Canadian dollar closed at US$0.7710 or US$1=C$1.2970 on Wednesday, which compares with Tuesday’s North American close of US$0.7685 or US$1=C$1.3012.
Gains in crude oil contributed to the advances in the energy-linked Canadian currency. However, broad global economic uncertainty did keep some caution in the financial markets overall.
West Texas Intermediate crude oil was up by 5.47 per cent, at US$105.22 per barrel.
The TSX Composite Index was weaker, down 52.81 points, or 0.27 per cent, to close at 19,837.25 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.55
Linamar Corp.——————–dn $ 1.18 at $ 46.68
Maple Leaf Foods—————–dn $ 0.42 at $ 26.48
Nutrien Ltd.———————up $ 3.36 at $126.17
Ritchie Bros Auctioneers Inc.—-up $ 1.38 at $ 75.79
Farmers Edge Inc.—————-up $ 0.17 at $ 2.70
(All figures are in Canadian dollars.)
