By MarketsFarm
WINNIPEG, May 17 (MarketsFarm) – The Canadian dollar held reasonably steady on Wednesday, with gains in crude oil lending some support to the energy-linked currency.
The Canadian dollar was trading at US$0.7434 or US$1=C$1.3452 late Wednesday, which compares with Tuesday’s close of US$0.7432 or US$1=C$1.3456. The Bank of Canada was late in releasing its official closing exchange rate.
Foreign investment in Canadian securities declined by C$19.1 billion in March, marking the largest divestment since September 2022, according to a report since Statistics Canada. During the same month, Canadian investors reduced their holdings of foreign securities by C$5.6 billion, leaving the country with a net outflow of C$13.5 billion from the economy in March.
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Crude oil was stronger, with West Texas Intermediate up by 2.6 per cent at US$72.70 per barrel.
The TSX Composite Index was up by 54.36 points or 0.27 per cent to close at 20,296.43 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.15
Linamar Corp.——————–up $ 0.39 at $ 65.09
Maple Leaf Foods—————–dn $ 0.14 at $ 26.10
Nutrien Ltd.———————dn $ 1.54 at $ 82.15
Ritchie Bros Auctioneers Inc.—-dn $ 0.56 at $ 69.70
Farmers Edge Inc.—————-dn $ 0.015 at $ 0.185
(All figures are in Canadian dollars.)
