WINNIPEG – The Canadian dollar declined for the second straight day on Wednesday after the release of economic news from Statistics Canada (StatCan).
The loonie closed at US$0.7257 or US$1=C$1.3779, down from US$0.7270 or US$1=C$1.3756 on Tuesday. Canada’s central data agency reported on Wednesday that the consumer price index rose 6.9 per cent in September, 0.1 of a point lower than the month before, but 0.2 of a point higher than economists’ predictions. Food prices grew 11.4 per cent year-by-year, the highest rate since Aug. 1981.
The United States Dollar Index was up 0.75 of a point at 112.88.
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Crude oil prices climbed on Wednesday despite U.S. President Joe Biden announcing the White House will release 15 million barrels from its strategic reserve to lower prices. Brent crude oil rose US$2.23 per barrel to US$92.26. West Texas Intermediate (WTI) crude oil surged US$2.99 at US$85.81/barrel. Western Canadian Select (WCS) was higher by US$1.98 per barrel to US$57.19.
The TSX/S&P Composite lost 123.78 points at 18,674.40.
Gold fell US$21.80 at US$1,634.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.03 at $ 1.98
Farmer’s Edge Inc. up $ 0.04 at $ 0.54
Linamar Corp. up $ 0.53 at $ 57.35
Maple Leaf Foods dn $ 0.58 at $ 20.43
Nutrien Ltd. dn $ 0.07 at $112.43
Ritchie Bros Auctioneers Inc. dn $ 0.41 at $ 87.45
(All figures are in Canadian dollars.)
