Canadian Financial Close: C$ holds steady

By MarketsFarm

WINNIPEG, April 12 (MarketsFarm) – The Canadian dollar held relatively steady on Tuesday, with gains in crude oil providing some underlying support for the energy-linked currency.
The Canadian dollar closed at US$0.7926 or US$1=C$1.2617 on Tuesday, which compares with Monday’s North American close of US$0.7923 or US$1=C$1.2621.
The Bank of Canada will make its latest interest rate announcement on Wednesday, with most investors anticipating a 50 point hike in the key overnight rate.
Inflation data out of the United States showed core inflation was up by 6.5 per cent on an annual basis through March, which was slightly below market expectations for 6.6 per cent growth.

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Expectations for reduced oil output from Russia contributed to a rally in the crude market on Wednesday. West Texas Intermediate crude oil was up by 6.79 per cent, at US$100.69 per barrel.
The TSX Composite Index was weaker, down 75.08 points, or 0.34 per cent, to close at 21,715.41 points.

Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.67
Linamar Corp.——————–dn $ 1.37 at $ 50.00
Maple Leaf Foods—————–dn $ 0.97 at $ 28.41
Nutrien Ltd.———————up $ 1.44 at $137.57
Ritchie Bros Auctioneers Inc.—-dn $ 0.95 at $ 72.10
Farmers Edge Inc.—————-up $ 0.01 at $ 2.93

(All figures are in Canadian dollars.)