WINNIPEG, Sept. 24 (MarketsFarm) – The Canadian dollar was weaker on Thursday, retreating from earlier gains amid ongoing concerns over a second wave of COVID-19.
The Canadian dollar closed at US$0.7477 or US$1=C$1.3374, which compares with Wednesday’s North American close of US$0.7486 or US$1=C$1.3358.
Canada’s minority-Liberal government announced plans to increase pandemic spending, including a new proposal for a weekly payout to unemployed Canadians just as previous income supports are set to expire. The Liberals need the support of at least one opposition party to prevent losing a confidence vote in Parliament. The new funding is expected to bring the NDP to the Liberals side in the upcoming vote.
The TSX Composite Index was stronger, up 95.15 points, or 0.60 per cent, to close at 15,912.26 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————- $ 0.00 at $ 2.39
Linamar Corp.——————–up $ 0.25 at $ 38.03
Maple Leaf Foods—————–up $ 0.01 at $ 26.98
Nutrien Ltd.———————up $ 0.26 at $ 53.13
Ritchie Bros Auctioneers Inc.—-up $ 0.38 at $ 75.79
Rocky Mountain Dealerships Inc.–dn $ 0.15 at $ 5.47
(All figures are in Canadian dollars.)