By MarketsFarm
WINNIPEG, Dec. 8 (MarketsFarm) – The Canadian dollar was firmer on Wednesday, but well off its session highs as the Bank of Canada’s latest interest rate decision was not as hawkish as some participants had expected.
The Canadian dollar closed at US$0.7910 or US$1=C$1.2642 on Wednesday, which compares with Tuesday’s North American close of US$0.7899 or US$1=C$1.2660.
The Bank of Canada held its key overnight rate unchanged at 0.25 per cent on Wednesday and maintained language in the accompanying statement pointing to an interest rate hike in April. Some analysts had expected that the Bank could start raising rates sooner.
Crude oil posted small advances, with West Texas Intermediate crude oil up by 0.89 per cent, at US$72.68 per barrel.
The TSX Composite Index was down by 85.30 points, or 0.40 per cent, to close at 21,077.35 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-dn $ 0.01 at $ 3.00
Linamar Corp.——————–dn $ 1.01 at $ 74.60
Maple Leaf Foods—————–dn $ 0.22 at $ 28.95
Nutrien Ltd.———————up $ 0.56 at $ 89.39
Ritchie Bros Auctioneers Inc.—-dn $ 0.62 at $ 88.97
Farmers Edge Inc.—————-up $ 0.17 at $ 3.42
(All figures are in Canadian dollars.)
