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Canadian Financial Close: Canadian dollar lower on Wednesday

WINNIPEG, Sept. 18 (MarketsFarm) – The Canadian dollar was slightly lower on Wednesday, continuing a week of stable activity

The dollar finished the day at US$0.7535 or US$1=C$1.3271, which compares with Tuesday’s close of US$0.7543 or US$1=C$1.3257.

Global equities were mixed following the United States Federal Reserve cutting interest rates for the second time this year. Chairperson Jerome Powell said “moderate policy moves” should sustain U.S. economic growth despite seemingly never-ending trade wars. The Federal Reserve cut benchmark interest rated by a quarter of a percentage point from two per cent to 1.75 per cent.

The TSX Composite Index closed lower by 34.46 points at 16,800.29. The S&P 500 gained 1.03 to close at 3,006.73. Similarly, the Dow Jones rose 36.28 points to finish at 27,147.08. The NASDAQ was down 8.63 to finish at 8,177.39.

Benchmark oil prices corrected downwards after an initial bump earlier in the week. Brent crude oil was down by US$1.04 to close at US$63.51 per barrel. West Texas Intermediate (WTI) crude oil was down US$1.21 to close at US$58.13 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.02 at $ 3.63
Linamar Corp. dn $ 0.11 at $ 43.49
Maple Leaf Foods dn $ 0.21 at $ 31.18
Nutrien Ltd. up $ 0.24 at $ 68.75
Ritchie Bros Auctioneers Inc. dn $ 0.14 at $ 50.76
Rocky Mountain Dealerships Inc. up $ 0.21 at $ 7.35

(All figures are in Canadian dollars.)

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Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

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