By MarketsFarm
WINNIPEG, Dec. 9 (MarketsFarm) – The Canadian dollar held steady on Wednesday while its United States counterpart found a small amount of traction.
The dollar finished at US$0.7811 or US$1.2803, compared to Tuesday’s close of US$0.7808 or US$1=C$1.2808.
The United States Dollar Index saw the greenback inch up 0.075 at 90.955 points.
The Bank of Canada announced it would maintain its key interest rate at 0.25 per cent and will continue to do so until at least 2023.
Benchmark crude oil prices were narrowly mixed on Wednesday, as the United States Energy Information Administration reported the country’s crude stocks expanded by 15.2 million barrels. That was countered by positive market sentiment that the roll out of COVID-19 vaccines will lead to renewed demand for fuels.
Read Also
Canadian Financial Close: C$ firm Friday
Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on…
Brent crude oil was up nine cents at US$48.93 per barrel. West Texas Intermediate (WTI) crude oil gained one cent at US$45.61 per barrel. Western Canadian Select (WCS) crude oil was down 10 cents at US$33.40 per barrel.
The TSX Composite Index lost 79.14 points on Tuesday to finish at 17,599.86.
Gold dropped US$31.77 at US$1,838.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.75
Linamar Corp. up $ 3.14 at $ 68.99
Maple Leaf Foods up $ 0.38 at $ 27.87
Nutrien Ltd. up $ 0.04 at $ 64.21
Ritchie Bros Auctioneers Inc. dn $ 1.65 at $ 90.73
Rocky Mountain Dealerships Inc. up $ 0.02 at $ 6.92
(All figures are in Canadian dollars.)
