Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 15 (MarketsFarm) – The Canadian dollar lower on Thursday, as the United States dollar incurred a sharp uptick while crude oil prices stepped back.
The loonie closed at US$0.7331 or US$1=C$1.3640, compared to Wednesday’s close of US$0.7374 or US$1=C$1.3561. On the U.S. Dollar Index, the greenback gained 0.822 of a point at 104.235.
Benchmark crude oil prices were lower on Thursday due to the stronger U.S. dollar, which in turn was caused by a number of central banks raising their interest rates.
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Brent crude oil gave up US$1.32 at US$81.38 per barrel. West Texas Intermediate (WTI) crude oil lost US$1.08 at US$76.20/barrel. Meanwhile, Western Canadian Select (WCS) bumped up 31 cents at US$47.74/barrel.
The TSX Composite Index ended Wednesday by dropping 291.02 points at 19,600.63. However, the 1.46 per cent decline in the TSX was not as severe as losses in the U.S. stock markets.
Gold fell US$31.80 at US$1,786.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 1.80 Farmers Edge Inc. dn $ 0.02 at $ 0.30 Linamar Corp. dn $ 0.47 at $ 64.24 Maple Leaf Foods dn $ 0.33 at $ 23.61 Nutrien Ltd. dn $ 0.94 at $102.14 Ritchie Bros Auctioneers Inc. dn $ 1.78 at $ 75.54
(All figures are in Canadian dollars.)
