WINNIPEG – The Canadian dollar made gains on Wednesday as oil prices continued to rise.
The loonie was at US$0.7773 or US$1=C$1.2865 on Wednesday, up from Tuesday’s close of US$0.7736 or US$1=C$1.2927. Prime Minster Justin Trudeau announced today new financial supports to workers and businesses negatively affected by new lockdowns.
The United States Dollar Index declined 0.45 of a point to 96.04.
Benchmark crude oil prices consolidated their gains on Wednesday despite fears of new COVID-19 shutdowns. Brent crude oil advanced US$1.50 per barrel to US$75.48. West Texas Intermediate (WTI) crude oil jumped US$1.81 to US$72.93/barrel. Western Canadian Select (WCS) crude oil increased US$1.41 at US$57.80/barrel.
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The TSX/S&P Composite Index had another positive day, gaining 145.18 points to 21,070.05, the first time it closed above 21,000 points in two weeks.
Gold had a big day, rising US$16.20 per ounce to US$1,804.90.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.95
Farmer’s Edge Inc. dn $ 0.10 at $ 3.28
Linamar Corp. up $ 0.49 at $ 72.90
Maple Leaf Foods up $ 0.05 at $ 29.08
Nutrien Ltd. up $ 1.98 at $ 95.22
Ritchie Bros Auctioneers Inc. dn $ 0.90 at $ 77.88
(All figures are in Canadian dollars.)
