By MarketsFarm
WINNIPEG, Sept. 13 (MarketsFarm) – The Canadian dollar was weaker at market close on Friday, hitting a nine-day low as investors prepare for possible interest rate cuts by the United States Federal Reserve.
The loonie finished the day at US$0.7543 or US$1=C$1.3257, which compares with Thursday’s close of US$0.7573 or C$1.3205.
The Federal Reserve is widely expected to cut interest rates on Sept. 18. However there has uncertainty by much the cut could be, according to reports.
Benchmark oil prices were steady to lower on Friday, as a slowing global economy weighed on values over support from progress in the U.S./China trade war.
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Brent crude oil slipped 13 cents to close at US$60.25 per barrel. West Texas Intermediate (WTI) crude oil was down 16 cents to close at US$54.93 per barrel. Western Canadian Select (WCS) crude oil lost 39 cents at US$42.63 per barrel.
The TSX/S&P Composite Index was up 39.14 points on Friday to close at 16,682.42 on hopes of a forthcoming U.S./China trade deal next month.
Gold was down US$12.80 on Friday to close at US$1,494.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.04 at $ 3.64
Linamar Corp. up $ 0.56 at $ 43.88
Maple Leaf Foods up $ 0.29 at $ 31.61
Nutrien Ltd. up $ 1.16 at $ 68.66
Ritchie Bros Auctioneers Inc. up $ 0.09 at $ 50.42
Rocky Mountain Dealerships Inc. up $ 0.11 at $ 7.04
(All figures are in Canadian dollars.)
