By MarketsFarm
WINNIPEG, Oct. 22 (MarketsFarm) – The Canadian dollar held relatively steady on Friday, posting only small losses as the currency traded near its highest levels in four months.
The Canadian dollar closed at US$0.8093 or US$1=C$1.2357 on Friday, which compares with Thursday’s North American close of US$0.8097 or US$1=C$1.2351.
Positioning ahead of the Bank of Canada’s next interest rate announcement, due Oct. 27, accounted for some of the activity. The Bank is expected to be keeping rates unchanged for the time being, but recent economic news has raised expectations that an eventual hike will come sooner rather than later.
Crude oil was stronger on the day, with West Texas Intermediate up by 2.05 per cent, at US$84.19 per barrel.
The TSX Composite Index held firm near its recently-hit record highs, moving up 3.76 points, or 0.02 per cent, to close at 21,216.15 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————- $ 0.00 at $ 3.20
Linamar Corp.——————–dn $ 0.88 at $ 67.89
Maple Leaf Foods—————–dn $ 0.15 at $ 27.67
Nutrien Ltd.———————up $ 0.14 at $ 86.69
Ritchie Bros Auctioneers Inc.—-up $ 0.29 at $ 83.56
Farmers Edge Inc.—————-up $ 0.17 at $ 4.92
(All figures are in Canadian dollars.)
