By MarketsFarm
WINNIPEG, Sept. 4 (MarketsFarm) – The Canadian dollar moved above the 75 U.S. cent mark following the Bank of Canada’s decision to leave interest rates unchanged.
The dollar finished the day at US$0.7540 or US$1=C$1.3263, which compares with Tuesday’s close of US$0.7495 or US$1=C$1.3343.
Global equities were stronger today, responding to a generally optimistic tone in the global economy. A trade war between the United States and China and a looming Brexit still underpin concerns of long-term global economic growth.
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The TSX Composite Index closed higher by 49.61 points at 16,450.34. The S&P 500 gained 31.32 to close at 2,937.59. Similarly, the Dow Jones rose 234.30 points to finish at 26,352.32. The NASDAQ was up 102.17 to finish at 7,976.33.
Benchmark oil prices were higher, following an announcement that the U.S. will increase sanctions on Iranian oil in the weeks to come. Russia will also reportedly be cutting oil production in September. Brent crude oil was up by US$2.51 to close at US$60.77 per barrel. West Texas Intermediate (WTI) crude oil gained US$2.15 to close at US$53.95 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 2.64
Linamar Corp. dn $ 1.11 at $ 39.33
Maple Leaf Foods dn $ 0.03 at $ 31.63
Nutrien Ltd. dn $ 1.37 at $ 65.68
Ritchie Bros Auctioneers Inc. up $ 0.02 at $ 52.59
Rocky Mountain Dealerships Inc. up $ 0.04 at $ 6.69
(All figures are in Canadian dollars.)
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