Canadian financial close: C$ firm Wednesday

Glacier FarmMedia — The Canadian dollar showed some modest strength on Wednesday, hitting fresh three-week highs relative to its United States counterpart.

• The Canadian dollar settled at US$0.7275 or US$1=C$1.3746, which compares with Tuesday’s close of US$0.7269 or US$1=C$1.3757.
• Canadian factory sales were up by 3.6 per cent in February compared to the previous month, at C$71.2 billion, reported Statistics Canada. That came in below pre-report expectations for 3.8 per cent growth.
• Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose two per cent in February at C$86.8 billion.
• The ongoing conflict in the Middle East remained a feature of the energy markets. West Texas Intermediate crude oil held steady, losing only seven cents at US$91.21 per barrel.
• The TSX Composite Index gained 53.63 points at 34,155.99 points.

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