WINNIPEG – The Canadian dollar made a slight gain on Wednesday after the Bank of Canada (BoC) announced its latest key interest rate decision on Wednesday.
The loonie closed at US$0.7912 or US$1=C$1.2639, up from US$0.7906 or US$1=C$1.2648 on Tuesday. Canada’s central bank became more hawkish, announcing that its key lending rate will be raised by 0.5 of a point to 1.5 per cent with other rate hikes possibly to come later this year.
The United States Dollar Index pulled up 0.83 of a point to 102.58 on Wednesday.
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Glacier FarmMedia — The Canadian dollar was stronger Wednesday morning, finding some support from advances in crude oil. At 9:23…
After making major gains Wednesday morning, crude oil prices settled on the positive side of unchanged. Brent crude oil added US$0.14 per barrel at US$115.74. West Texas Intermediate (WTI) crude oil was up US$0.04 at US$114.71/barrel. Western Canadian Select (WCS) jumped US$0.97 to US$97.74.
The TSX/S&P Composite Index declined 15.62 points at 20,713.72.
Gold increased US$1.60 at US$1,850.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.35
Farmer’s Edge Inc. up $ 0.11 at $ 2.51
Linamar Corp. up $ 0.08 at $ 55.81
Maple Leaf Foods dn $ 0.17 at $ 27.62
Nutrien Ltd. dn $ 4.02 at $119.59
Ritchie Bros Auctioneers Inc. up $ 0.02 at $ 76.15
(All figures are in Canadian dollars.)
