Compiled by MarketsFarm
WINNIPEG, Feb. 15 (MarketsFarm) – The Canadian dollar lost more than a third of a cent on Wednesday due to strong upticks in the United States dollar, a lackluster home sales report, and an absence of support from crude oil.
The dollar closed at US$0.7456 or US$1=C$1.3411, compared to Tuesday’s close of US$0.7493 or US$1=C$1.3345. On the U.S. Dollar Index, the greenback gained 0.637 of a point at 103.760.
The Canadian Real Estate Association (CREA) reported January home sales fell 37.1 per cent, which made for the worst start to a calendar year since 2009.
Read Also
Canadian Financial Close: Loonie unchanged, crude oil surges
Glacier FarmMedia | MarketsFarm – The Canadian dollar was unchanged on Friday but ended the week more than four-tenths of a United…
Benchmark crude oil prices were slightly lower on Wednesday as the U.S. Energy Information Administration reported the country’s strategic reserve grew by almost 16.3 million barrels for week ended Feb. 10. That’s the fourth largest weekly increase on record and nearly seven times more than the previous week’s build. Despite the increases, the strategic reserve remained close to a 40-year low.
Brent crude oil was down 37 cents at US$85.21 per barrel and West Texas Intermediate (WTI) lost 56 cents at US$78.50. Western Canadian Select (WCS) dipped 11 cents at US$60.60.
The TSX Composite Index nudged up 15.60 points at 20,720.39.
Gold dropped US$16.40 at US$1,849.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.19 at $ 2.42 Farmers Edge Inc. up $ 0.01 at $ 0.31 Linamar Corp. up $ 0.65 at $ 74.20 Maple Leaf Foods dn $ 0.06 at $ 26.07 Nutrien Ltd. up $ 0.39 at $103.07 Ritchie Bros Auctioneers Inc. up $ 0.30 at $ 85.67
(All figures are in Canadian dollars.)
