By MarketsFarm
WINNIPEG, Dec. 18 (MarketsFarm) – The Canadian dollar was higher at market close on Wednesday, following the release of Statistics Canada’s report on inflation earlier in the day.
The loonie finished the day at US$0.7623 or US$1=C$1.3119, which compares with Tuesday’s close of US$0.7599 or C$1.3160.
Statistics Canada reported inflation rose 2.2 per cent in November, as expected. Higher energy prices fueled the increase in inflation.
Benchmark oil prices were steady on Wednesday, with a trade-off between lower United States crude oil inventories versus hopes of stronger global demand due to the U.S./China trade deal.
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Brent crude oil was up seven cents to close at US$66.17 per barrel, and West Texas Intermediate (WTI) was unchanged at US$60.94 per barrel. Meanwhile, Western Canadian Select slipped 25 cents to close at US$40.13 per barrel.
The TSX/S&P Composite Index finished lower on Wednesday by 43.22 to close at 17,031.98 points, as the inflation report weighed on values.
Gold lost 71 cents on Wednesday to close at US$1,475.52 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.60
Linamar Corp. up $ 0.43 at $ 48.91
Maple Leaf Foods up $ 0.01 at $ 25.53
Nutrien Ltd. dn $ 0.13 at $ 63.70
Ritchie Bros Auctioneers Inc. dn $ 0.34 at $ 56.55
Rocky Mountain Dealerships Inc. dn $ 0.03 at $ 6.36
(All figures are in Canadian dollars.)
