By MarketsFarm
WINNIPEG, April 14 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, as gains in crude oil underpinned the energy-linked currency.
The Canadian dollar closed at US$0.7979 or US$1=C$1.2533 on Wednesday, which was up from Tuesday’s North American close US$0.7966 or US$1=C$1.2554.
Crude oil rallied following the latest U.S. stocks data, as the country’s Energy Information Administration (EIA) reported that crude inventories were down by 5.9 million barrels during the week ended April 9. In other data, the four-week moving average for U.S. oil exports rose despite a decline in weekly movement.
West Texas Intermediate crude oil was up by 4.57 per cent at US$62.93 per barrel.
The TSX Composite Index was weaker, down 32.04 points, or 0.17 per cent, to close at 19,171.66 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.12 at $ 3.75
Linamar Corp.——————–up $ 0.74 at $ 72.93
Maple Leaf Foods—————–dn $ 0.25 at $ 26.45
Nutrien Ltd.———————up $ 2.88 at $ 71.03
Ritchie Bros Auctioneers Inc.—-dn $ 1.56 at $ 77.56
Farmers Edge Inc.—————-dn $ 0.01 at $ 17.90
(All figures are in Canadian dollars.)
