Compiled by MarketsFarm
WINNIPEG, Sept. 7 (MarketsFarm) – The Canadian dollar inched lower Thursday, as the United States dollar was higher and crude oil prices were pinch lower.
The loonie closed at US$0.7313 or US$1=C$1.3674, compared to Wednesday’s finish of US$0.7324 or US$1=C$1.3654. On the U.S. Dollar Index, the greenback added 0.220 of a point at 104.675.
Benchmark crude oil prices eased back on Thursday as the summer travel season wrapped up and concerns over China’s sluggish economy re-entered the market. However, supply cuts by Saudi Arabia and Russia tempered further declines.
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Brent crude oil lost 72 cents at US$89.88 per barrel, while West Texas Intermediate was down 68 cents at US$86.86, and Western Canadian Select gave up 85 cents at US$68.86.
The day after the Bank of Canada kept its key interest rate at five per cent, the central bank’s governor Tiff Macklem warned on Thursday that further hikes remained a possibility.
The TSX Composite Index dipped 94.88 points on Thursday to close at 20,132.08.
Gold shed 90 cents at US$1,943.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.23 at $ 2.35 Farmers Edge Inc. dn $ 0.005 at $ 0.16 Linamar Corp. dn $ 1.76 at $ 70.32 Maple Leaf Foods dn $ 0.20 at $ 28.31 Nutrien Ltd. dn $ 0.92 at $ 85.44 Ritchie Bros Auctioneers Inc. up $ 0.96 at $ 89.63
(All figures are in Canadian dollars)
