Canadian Financial Close: C$ weakens

By MarketsFarm

WINNIPEG, Sep. 13 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, as inflation data out of the United States raised expectations for continued U.S. interest rate hikes.
The Canadian dollar settled at US$0.7628 or US$1=C$1.3110 on Tuesday, which compares with Monday’s close of US$0.7704 or US$1=C$1.2980.
The U.S. Consumer Price Index was up by 0.1 per cent in August compared to the previous month, beating average expectations for a 0.1 per cent decline. The country’s annual rate of inflation came in at 8.3 per cent, which was down slightly from the previous month but still historically high.

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Losses in crude oil also weighed on the energy-linked Canadian currency, with West Texas Intermediate crude oil down by 0.30 per cent at US$87.50 per barrel.
The TSX Composite Index was weaker, down 341.83 points or 1.71 per cent to close at 19,645.40 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.13
Linamar Corp.——————–dn $ 1.12 at $ 65.25
Maple Leaf Foods—————–dn $ 0.33 at $ 23.16
Nutrien Ltd.———————dn $ 0.12 at $117.99
Ritchie Bros Auctioneers Inc.—-dn $ 1.27 at $ 87.57
Farmers Edge Inc.—————-up $ 0.06 at $ 0.66

(All figures are in Canadian dollars.)