WINNIPEG – The Canadian dollar was lower on Thursday due to a stronger United States greenback.
The loonie was at US$0.7416 or US$1=C$1.3484 as of 3:38 p.m. CDT on Thursday, down from US$0.7464 or US$1=C$1.3397 on Wednesday. The Bank of Canada (BoC) did not publish its exchange rate at press time.
The United States Dollar Index jumped 0.67 points to 111.31, one day after the Federal Reserve raised its key interest rate 75 basis points to 3.25 per cent.
Crude oil prices were slightly higher on Thursday. Brent crude oil gained US$0.49 per barrel to US$90.32. West Texas Intermediate (WTI) crude oil added US$0.51 at US$83.45/barrel. Meanwhile, Western Canadian Select (WCS) was down US$0.10 per barrel to US$62.31.
The TSX/S&P Composite Index lost 181.86 points to 19,002.68.
Gold gained US$11.00 at US$1,682.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 1.95
Farmer’s Edge Inc. dn $ 0.08 at $ 0.74
Linamar Corp. dn $ 1.00 at $ 61.74
Maple Leaf Foods dn $ 0.84 at $ 20.76
Nutrien Ltd. dn $ 0.36 at $118.92
Ritchie Bros Auctioneers Inc. dn $ 0.99 at $ 85.22
(All figures are in Canadian dollars.)
