WINNIPEG – The Canadian dollar took a slight step down on Wednesday despite rising crude oil prices.
The loonie closed at US$0.7702 or US$1=C$1.2983, down from US$0.7709 or US$1=C$1.2972 on Tuesday. The United States Dollar Index was relatively steady, losing only 0.02 of a point to 108.61.
Crude oil prices continued to rally as the result of shrinking stockpiles in the U.S. Brent crude oil rose US$1.47 per barrel to US$101.69. West Texas Intermediate (WTI) crude oil added US$1.60 at US$95.34/barrel. Meanwhile, Western Canadian Select (WCS) jumped US$1.64 per barrel to US$75.53.
The TSX/S&P Composite Index grew 36.03 points at 20,021.38.
Gold added US$4.20 at US$1,765.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.00
Farmer’s Edge Inc. dn $ 0.07 at $ 0.61
Linamar Corp. dn $ 0.05 at $ 62.29
Maple Leaf Foods up $ 0.05 at $ 23.31
Nutrien Ltd. up $ 2.90 at $127.64
Ritchie Bros Auctioneers Inc. dn $ 0.57 at $ 91.18
(All figures are in Canadian dollars.)
