Canadian Financial Close: Canadian dollar slightly stronger

By MarketsFarm

WINNIPEG, Dec. 11 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, thanks to a comparatively weaker United States dollar following an announcement that the U.S. Federal Reserve will hold interest rates steady into 2020.

The dollar finished the day at US$0.7575 or US$1=C$1.3201, compared to Tuesday when it closed at US$0.7557 or US$1=C$1.3233.

Stock markets were mixed following the final rate announcement of 2019 from Federal Reserve. The TSX Composite Index closed lower by 11.09 points at 16,939.61. The S&P 500 gained 8.92 to close at 3,141.48. The Dow Jones was up by 28.42 to finish at 27,910.14. The NASDAQ was up 37.87 to finish at 8,654.05.

Benchmark oil prices were lower following reports that U.S. inventories were the highest they have been all year. This week, crude stockpiles rose by 822,000 barrels. Brent crude oil was 52 cents lower, closing at US$63.82 per barrel. West Texas Intermediate (WTI) crude oil was down by 40 cents to close at US$58.84 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries unch at $ 3.60
Linamar Corp. up $ 0.10 at $ 46.12
Maple Leaf Foods dn $ 0.11 at $ 25.50
Nutrien Ltd. dn $ 0.32 at $ 61.05
Ritchie Bros Auctioneers Inc. up $ 0.22 at $ 57.45
Rocky Mountain Dealerships Inc. dn $ 0.12 at $ 6.27

(All figures are in Canadian dollars.)

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