By MarketsFarm
WINNIPEG, March 1 (MarketsFarm) – The Canadian dollar held steady on Wednesday, as investors squared positions ahead of next week’s Bank of Canada interest rate announcement.
The Canadian dollar settled at US$0.7346 or US$1=C$1.3612 on Wednesday, which compares with Tuesday’s close of US$0.7348 or US$1=C$1.3609.
Canada’s real gross domestic product was unchanged in the fourth quarter of 2022 after five consecutive quarterly increases, according to a report from Statistics Canada on Tuesday. While early data for January showed a 0.3 per cent increase during the month, the surprisingly soft headline number was seen as confirming ideas that the Bank of Canada will hold rates steady in next week’s policy announcement.
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Crude oil was stronger, with West Texas Intermediate crude oil up by 0.9 per cent at US$77.73 per barrel.
The TSX Composite Index was up by 38.59 points or 0.19 per cent to close at 20,259.78 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.33
Linamar Corp.——————–up $ 0.45 at $ 74.70
Maple Leaf Foods—————–up $ 0.23 at $ 27.91
Nutrien Ltd.———————up $ 0.57 at $106.89
Ritchie Bros Auctioneers Inc.—-dn $ 1.70 at $ 81.78
Farmers Edge Inc.—————- $ 0.00 at $ 0.25
(All figures are in Canadian dollars.)
