Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 6 (MarketsFarm) – The Canadian dollar dipped slightly on Wednesday, despite great pressure from a stronger United States dollar and weaker crude oil prices to pull it lower.
The loonie closed at US$0.7665 or US$1=C$1.3047, compared to Tuesday’s close of US$0.7670 or US$1=C$1.3038.
On the U.S. Dollar Index, the greenback advanced 0.565 of a point at 106.885.
Benchmark crude oil prices continued their retreat on Wednesday, as fears of a global recession kept its hold on the market.
Brent crude oil gave up US$2.44 at US$100.33 per barrel. West Texas Intermediate (WTI) crude oil shed US$1.07 at US$98.43 per barrel. Western Canadian Select (WCS) retreated US$4.65 at US$76.72 per barrel.
The TSX Composite Index lost 104.50 points to finish Wednesday at 18,729.66.
Gold fell US$26.00 at US$1,737.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.34
Farmers Edge Inc. dn $ 0.01 at $ 1.65
Linamar Corp. up $ 0.36 at $ 53.52
Maple Leaf Foods up $ 0.16 at $ 25.93
Nutrien Ltd. dn $ 0.66 at $ 96.71
Ritchie Bros Auctioneers Inc. up $ 1.60 at $ 85.64
(All figures are in Canadian dollars.)
