Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 9 (MarketsFarm) – The Canadian dollar was higher on Thursday, after Bank of Canada Governor Tiff Macklem announced the central bank will increase interest rates before curtailing its holdings of government bonds.
The loonie closed at US$0.7903 or US$1=C$1.2654, compared to Wednesday’s close of US$0.7889 or US$1=C$1.2676.
On the U.S. Dollar Index the greenback stepped back 0.154 to 92.490 points.
Benchmark crude oil prices were lower on Thursday, after China announced a plan to release its state oil reserves and that the U.S. crude draw was smaller than expected.
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Brent crude oil retreated US$1.30 at US$71.30 per barrel. West Texas Intermediate (WTI) crude oil lost US$1.34 at US$67.96 per barrel. Western Canadian Select (WCS) dropped US$1.56 at US$56.04 per barrel.
The TSX Composite Index was down 36.52 points on Thursday at 20,705.27.
Gold was up US$3.20 at US$1,796.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.23
Farmers Edge Inc. up $ 0.01 at $ 4.95
Linamar Corp. dn $ 1.18 at $ 70.03
Maple Leaf Foods up $ 0.03 at $ 26.73
Nutrien Ltd. up $ 2.41 at $ 79.27
Ritchie Bros Auctioneers Inc. up $ 1.34 at $ 81.22
(All figures are in Canadian dollars.)
