By MarketsFarm
WINNIPEG, Jan. 8 (MarketsFarm) – The Canadian dollar was lower at market close on Wednesday as crude oil prices declined.
The loonie finished the day at US$0.7677 or US$1=C$1.3026, which compares with Monday’s close of US$0.7687 or C$1.3009.
Benchmark crude oil prices dropped on Wednesday, following comments from United States President Donald Trump in which he claimed Iran is “standing down.” That came after Iran launched 12 missiles at U.S. targets in Iraq, resulting in no U.S. fatalities.
Brent crude oil fell US$2.14 per barrel closing at US$66.13 per barrel. West Texas Intermediate (WTI) slid US$2.44 at US$60.26 per barrel. Western Canadian Select (WCS) plummeted US$3.08 at US$37.06 per barrel.
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The TSX/S&P Composite Index was flat on Wednesday, incurring a small loss of 0.24 of a point, closing at 17,167.82 points.
Gold dropped US$17.46 on Wednesday to close at US$1,556.91 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.79
Linamar Corp. dn $ 2.22 at $ 46.52
Maple Leaf Foods dn $ 0.16 at $ 24.96
Nutrien Ltd. up $ 0.09 at $ 62.21
Ritchie Bros Auctioneers Inc. up $ 0.03 at $ 56.29
Rocky Mountain Dealerships Inc. dn $ 0.07 at $ 6.81
(All figures are in Canadian dollars.)
