WINNIPEG – The Canadian dollar dropped below the 74 United States cent mark on Wednesday.
The loonie closed at US$0.7363 or US$1=C$1.3582, compared to US$0.7405 or US$1=C$1.3504 on Tuesday. The U.S. Dollar Index increased 0.39 of a point at 103.88.
Crude oil jumped on Tuesday after U.S. stockpiles fell by more than 12 million barrels, the biggest draw since November. Brent crude oil added US$1.14 per barrel at US$77.98. West Texas Intermediate (WTI) advanced US$0.95 at US$73.86/barrel.
The TSX/S&P Composite Index had another downturn, falling 218.32 points to 19,927.69.
Gold was down US$12.70 at US$1,961.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.19 at $ 2.22
Farmer’s Edge Inc. unchanged at $ 0.185
Linamar Corp. dn $ 1.00 at $ 63.90
Maple Leaf Foods dn $ 0.56 at $ 25.57
Nutrien Ltd. dn $ 2.92 at $ 78.47
Ritchie Bros Auctioneers Inc. dn $ 0.62 at $ 76.51
(All figures are in Canadian dollars.)
