WINNIPEG – The Canadian dollar inched upwards on Wednesday.
The loonie was at US$0.7932 or US$1=C$1.2607 on Wednesday, compared to Tuesday’s close at US$0.7926 or US$1=C$1.2617. The United States Dollar Index was down 0.11 of a point at 92.52.
Benchmark crude oil prices were mostly down on Wednesday as OPEC+ and its partners agreed to a 400,000-barrel per day hike, but losses were tempered by lower than expected crude inventories in the U.S. Brent crude oil declined US$0.34 per barrel to US$71.29. West Texas Intermediate (WTI) crude oil fell US$0.26 to US$68.24/barrel. Meanwhile, Western Canadian Select (WCS) crude oil gained US$0.24 to US$56.27/barrel.
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The TSX/S&P Composite Index reached a record high on Wednesday due to rallies in railway and tech stocks, jumping 106.64 points and closing at 20,689.58.
Gold increased 29 cents per ounce to US$1,813.91.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.09 at $ 3.22
Farmer’s Edge Inc. dn $ 0.03 at $ 5.64
Linamar Corp. dn $ 0.30 at $ 71.18
Maple Leaf Foods up $ 0.17 at $ 27.69
Nutrien Ltd. dn $ 0.56 at $ 76.14
Ritchie Bros Auctioneers Inc. up $ 0.92 at $ 79.97
(All figures are in Canadian dollars.)
