Canadian Financial Close: C$ continues slide

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By MarketsFarm

WINNIPEG, June 14 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, as expectations for an aggressive interest rate hike from the United States Federal Reserve circulated the financial markets.
The Canadian dollar closed at US$0.7728 or US$1=C$1.2940 on Tuesday, which compares with Monday’s North American close of US$0.7777 or US$1=C$1.2859.
The U.S. Fed is set to announce its latest monetary policy on Wednesday, with many analysts now predicting a 75 point hike to the key overnight rate instead of a more modest 50 point increase.

Canadian Financial Close: C$ softens Tuesday

Glacier FarmMedia — The Canadian dollar was slightly weaker on Monday, as the latest inflation data The Canadian dollar settled…

Losses in crude oil also weighed on the energy-linked Canadian currency. Reports that the U.S. was planning on selling up to 45 million barrels from its strategic reserve accounted for some of the weakness.
West Texas Intermediate crude oil was down by 2.03 per cent, at US$118.43 per barrel.
The TSX Composite Index was weaker, down 194.05 points, or 0.98 per cent, to close at 19,548.51 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.40
Linamar Corp.——————–up $ 0.01 at $ 55.08
Maple Leaf Foods—————–dn $ 0.41 at $ 25.90
Nutrien Ltd.———————up $ 4.39 at $113.00
Ritchie Bros Auctioneers Inc.—-up $ 1.01 at $ 78.53
Farmers Edge Inc.—————-up $ 0.01 at $ 1.85

(All figures are in Canadian dollars.)