By MarketsFarm
WINNIPEG, May 12 (MarketsFarm) – The Canadian dollar hit its strongest levels in six years relative to its United States counterpart on Wednesday, but ran into resistance to settle unchanged on the day.
The Canadian dollar closed at US$0.8267 or US$1=C$1.2096 on Wednesday, which was steady with Tuesday’s North American close.
Data out of the U.S. showed annual inflation at 4.2 per cent in April, which was the largest growth in 12 months since September 2008.
Crude oil was stronger, with West Texas Intermediate crude oil up by 0.84 per cent at US$65.82 per barrel.
The TSX Composite Index was weaker, down 166.27 points, or 0.86 per cent, to close at 19,107.77 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-up $ 0.14 at $ 3.89
Linamar Corp.——————–dn $ 2.19 at $ 74.42
Maple Leaf Foods—————–up $ 0.09 at $ 26.33
Nutrien Ltd.———————dn $ 1.64 at $ 72.72
Ritchie Bros Auctioneers Inc.—-dn $ 5.75 at $ 73.36
Farmers Edge Inc.—————-dn $ 0.07 at $ 13.98
(All figures are in Canadian dollars.)
