By MarketsFarm
WINNIPEG, Sep. 16 (MarketsFarm) – The Canadian dollar was weaker on Friday, hitting its softest level in nearly two years relative to its United States counterpart as investors continued to back away from riskier assets ahead of the weekend.
The Canadian dollar settled at US$0.7527 or US$1=C$1.3285 on Friday, which compares with Thursday’s close of US$0.7576 or US$1=C$1.3200.
Rising U.S. inflation and expectations that the U.S. Federal Reserve will hike interest rates by at least 75 points next week kept the U.S. dollar climbing higher, which weighed on other international currencies.
Crude oil held relatively steady, with West Texas Intermediate crude oil up by 0.28 per cent at US$85.34 per barrel.
The TSX Composite Index was weaker, down 174.28 points or 0.89 per cent to close at 19,385.88 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 1.96
Linamar Corp.——————–dn $ 0.91 at $ 63.69
Maple Leaf Foods—————–dn $ 0.30 at $ 22.84
Nutrien Ltd.———————dn $ 3.41 at $114.15
Ritchie Bros Auctioneers Inc.—-up $ 0.16 at $ 86.84
Farmers Edge Inc.—————-up $ 0.05 at $ 0.87
(All figures are in Canadian dollars.)
