WINNIPEG – The Canadian dollar was mostly flat on Wednesday, but still reached a four-week low only hours after the release of new inflation data.
The loonie was at US$0.7918 or US$1=C$1.2630 on Wednesday, compared to Tuesday’s close at US$0.7922 or US$1=C$1.2623. Statistics Canada reported that Canada’s inflation rate rose to 3.7 per cent in July, its highest level in a decade.
The U.S. Dollar Index was up 0.03 of a point at 93.16.
Benchmark crude oil prices fell to a three-month low on Wednesday after fuel demand waned and gasoline inventories in the U.S. increased. Brent crude oil slipped US$1.45 per barrel to US$67.58. West Texas Intermediate (WTI) crude oil dropped US$1.98 to US$64.61/barrel. Western Canadian Select (WCS) crude oil declined US$1.81 to US$51.95/barrel.
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The TSX/S&P Composite Index continued its slide, losing 61.48 points to 20.302.11.
Gold rebounded US$0.38 per ounce to US$1,786.56.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.07
Farmer’s Edge Inc. up $ 0.13 at $ 4.46
Linamar Corp. dn $ 0.38 at $ 70.70
Maple Leaf Foods dn $ 0.03 at $ 26.97
Nutrien Ltd. dn $ 0.31 at $ 76.34
Ritchie Bros Auctioneers Inc. dn $ 2.52 at $ 76.73
(All figures are in Canadian dollars.)
