WINNIPEG, Feb. 10 (MarketsFarm) – The Canadian dollar was higher on Wednesday news that the United States racked up a US$163 billion deficit in January and that the U.S. dollar remained virtually unchanged.
The loonie finished at US$0.7881 or US$1=C$1.2689, compared to Tuesday’s close of US$0.7862 or US$1=C$1.2719. On the U.S. Dollar Index, the greenback remained almost at a standstill at 90.430 points.
Benchmark crude oil prices slightly went up for another day, its longest rally in two years. The recent rise in prices is due to the prospects of increasing demand and planned production cuts.
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Brent crude oil was up by US$0.08 at US$61.17 per barrel. West Texas Intermediate (WTI) crude oil nudged higher by US$0.06 at US$58.42/barrel. Western Canadian Select (WCS) crude oil pulled back by US$0.56 at US$46.94/barrel.
After an all-time peak during intraday trading, the TSX Composite Index settled before the end of Wednesday, increasing 49.16 to finish at a record-high close of 18,457.78.
Gold rose by US$4.02 at US$1,842.34 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.18 at $ 2.60
Linamar Corp. up $ 0.05 at $ 72.00
Maple Leaf Foods up $ 0.04 at $ 25.00
Nutrien Ltd. up $ 0.67 at $ 70.13
Ritchie Bros Auctioneers Inc. up $ 0.11 at $ 72.29
(All figures are in Canadian dollars.)
