WINNIPEG, March 10 (MarketsFarm) – The Canadian dollar remained steady against the United States dollar on Wednesday after The Bank of Canada announced it will hold its overnight rate at 0.25 per cent and United States President Joe Biden signed a US$1.9 trillion COVID-19 financial relief package.
The loonie finished at US$0.7913 or US$1=C$1.2637, compared to Monday’s close of US$0.7915 or US$1=C$1.2635. On the U.S. Dollar Index, the greenback fell by 0.16 at 91.800 points.
After retreating on Tuesday, benchmark crude oil prices returned to its ongoing ascent after the U.S. Energy Information Administration (EIA) reported a decrease in oil production in its weekly report released earlier today.
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Brent crude oil gained US$0.65 per barrel at US$68.17. West Texas Intermediate (WTI) crude oil rose by US$0.70 at US$64.71/barrel. Western Canadian Select (WCS) crude oil jumped US$0.88 to US$53.54/barrel.
The TSX Composite Index rose to another record-high close on Wednesday, increasing by 90.81 points at 18,690.00.
Gold gained by US$9.36 to US$1,725.46 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.40
Linamar Corp. up $ 3.76 at $ 80.01
Maple Leaf Foods up $ 0.20 at $ 26.57
Nutrien Ltd. up $ 0.73 at $ 72.09
Ritchie Bros Auctioneers Inc. up $ 1.70 at $ 69.34
(All figures are in Canadian dollars.)
