WINNIPEG – The Canadian dollar remained in a downturn on Wednesday as the United States dollar strengthened and crude oil prices declined.
The loonie was at US$0.7849 or US$1=C$1.2741 on Wednesday, down from Tuesday’s close of US$0.7886 or US$1=C$1.2680. The U.S. Dollar Index was up 0.63 of a point at 94.40.
For the most part, benchmark crude oil continued to retreat due to a rise in U.S. stockpiles and a slowdown in the Chinese economy. Brent crude oil dropped US$0.77 per barrel to US$78.32. West Texas Intermediate (WTI) crude oil declined US$0.68 to US$74.61/barrel. Meanwhile, Western Canadian Select (WCS) crude oil gained US$0.50 to US$63.20/barrel.
The TSX/S&P Composite Index ended Wednesday with another loss, shedding 16.00 points to 20,158.14.
Gold lost US$8.18 per ounce to US$1,725.83.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.21
Farmer’s Edge Inc. up $ 0.04 at $ 4.81
Linamar Corp. dn $ 0.96 at $ 66.36
Maple Leaf Foods up $ 0.40 at $ 26.37
Nutrien Ltd. dn $ 0.04 at $ 82.85
Ritchie Bros Auctioneers Inc. up $ 1.22 at $ 78.40
(All figures are in Canadian dollars.)
