By MarketsFarm
WINNIPEG, Jan. 26 (MarketsFarm) – The Canadian dollar was firmer on Wednesday as currency traders reacted to interest rate announcements from central banks in Canada and the United States.
The Canadian dollar closed at US$0.7933 or US$1=C$1.2606 on Wednesday, which compares with Tuesday’s North American close of US$0.7918 or US$1=C$1.2629.
Both the Bank of Canada and the U.S. Federal Reserve kept rates unchanged this month, while also indicating that future hikes would be coming sooner-rather-than-later.
The ongoing tensions between Russia and Ukraine contributed to gains in crude oil, with West Texas Intermediate crude oil up by 1.79 per cent, at US$87.13 per barrel.
The TSX Composite Index was relatively steady, up by 4.91 points, or 0.02 per cent, to close at 20,595.89 points.
Canada’s agricultural sector performed as follows:
Linamar Corp.——————–up $ 1.73 at $ 67.92
Maple Leaf Foods—————–up $ 0.34 at $ 29.46
Nutrien Ltd.———————up $ 0.80 at $ 88.75
Ritchie Bros Auctioneers Inc.—-dn $ 0.60 at $ 75.26
Farmers Edge Inc.—————-dn $ 0.03 at $ 2.77
(All figures are in Canadian dollars.)
