Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 8 (MarketsFarm) – The Canadian dollar fell back further on Wednesday, following an announcement by the Bank of Canada.
The loonie closed at US$0.7889 or US$1=C$1.2676, compared to Tuesday’s close of US$0.7923 or US$1=C$1.2621.
This came after Bank of Canada Governor Tiff Macklem announced its key interest rate would remain at 0.25 per cent. As well Macklem said the central bank’s quantative easing would be maintained at C$2 billion per week.
On the U.S. Dollar Index, the greenback bumped up 0.191 improving to 92.700 points.
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Benchmark crude oil prices were higher on Wednesday, as the aftermath of Hurricane Ida has curtailed U.S. supplies.
Brent crude oil gained 98 cents at US$72.67 per barrel. West Texas Intermediate (WTI) crude oil increased US$1.01 at US$69.36 per barrel. Western Canadian Select (WCS) rose US$1.35 at US$57.54 per barrel.
The TSX Composite Index lost 68.84 points on Wednesday at 20,741.79.
Gold dropped US$7.80 at US$1,790.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 3.23
Farmers Edge Inc. up $ 0.03 at $ 4.94
Linamar Corp. dn $ 1.03 at $ 71.21
Maple Leaf Foods unchanged at $ 26.70
Nutrien Ltd. dn $ 1.78 at $ 76.86
Ritchie Bros Auctioneers Inc. up $ 1.52 at $ 79.88
(All figures are in Canadian dollars.)
