Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 6 (MarketsFarm) – The Canadian dollar fell back on Thursday sliding below 73 U.S. cents due to another surge in the United States dollar and on comments made by Bank of Canada Governor Tiff Macklem.
The loonie closed at US$0.7289 or US$1=C$1.3719, compared to Wednesday’s close of US$0.7331 or US$1=C$1.3641.
On the U.S. Dollar Index, the greenback increased 1.134 points at 112.145.
Macklem said in a speech today that Canada’s central bank will remain on its plan to keep raising interest rates to counter inflation.
Read Also
Canadian Financial Close: C$ weaker Thursday
Glacier FarmMedia — The Canadian dollar was weaker on Thursday, as its United States counterpart regained lost ground in international…
Benchmark crude oil prices were higher on Thursday, continuing to rise on the production cuts to be imposed by OPEC+ next month.
Brent crude oil advanced US$1.54 at US$94.91 per barrel. West Texas Intermediate (WTI) crude oil gained US$1.19 at US$88.95/barrel. Western Canadian Select (WCS) tacked on 94 cents at US$64.51 per barrel.
The TSX Composite Index lost 256.08 points to finish Thursday at 18,979.01.
Gold bumped up 90 cents at US$1,721.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.03
Farmers Edge Inc. dn $ 0.04 at $ 0.52
Linamar Corp. unchanged at $ 57.75
Maple Leaf Foods dn $ 0.33 at $ 20.85
Nutrien Ltd. up $ 3.06 at $117.58
Ritchie Bros Auctioneers Inc. dn $ 1.63 at $ 84.77
(All figures are in Canadian dollars.)
