By MarketsFarm
WINNIPEG, Nov. 6 (MarketsFarm) – The Canadian dollar was weaker at market close on Wednesday, due to lower crude oil prices.
The loonie finished the day at US$0.7588 or US$1=C$1.3179, which compares with Tuesday’s close of US$0.7603 or C$1.3153.
Benchmark oil prices were lower Wednesday because of sudden negativity surrounding the signing of Phase One of the trade deal between the United States and China. Both sides have yet to agree on a new site to sign the pact after the APEC Summit in Chile was cancelled last week.
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Brent crude oil lost US$1.09 to close at US$61.87 per barrel, while West Texas Intermediate (WTI) was down 69 cents to close at US$56.54 per barrel. Western Canadian Select crude slipped 20 cents at US$34.79 per barrel.
The TSX/S&P Composite Index was 63.71 points on Wednesday to close at 16,745.64 points as the materials sector kept the market in the green.
In the U.S. the end results over the delay to the U.S./China trade deal were limited. The Dow Jones was flat with a small loss of 1.29 to close at 27,491.34. The NASDAQ was down 24.05 to finish at 8,410.63 points. The S&P 500 rose slightly by 2.12 to close at 3,076,74 points.
Gold was higher on Wednesday by US$8.80, closing at US$1,492.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.60
Maple Leaf Foods dn $ 0.84 at $ 23.17
Nutrien Ltd. dn $ 0.93 at $ 64.65
Ritchie Bros Auctioneers Inc. up $ 0.02 at $ 54.72
Rocky Mountain Dealerships Inc. up $ 0.01 at $ 6.46
(All figures are in Canadian dollars.)
