By MarketsFarm
WINNIPEG, Dec. 21 (MarketsFarm) – The Canadian dollar held steady on Wednesday, lacking any clear direction as market participants weighed the latest domestic inflation data.
The Canadian dollar settled at US$0.7346 or US$1=C$1.3612 on Wednesday, which compares with Tuesday’s close of US$0.7342 or US$1=C$1.3621.
Canada’s annual rate of inflation dipped to 6.8 per cent in November, from 6.9 per cent the previous month, according to a report from Statistics Canada. Gasoline prices were down by 3.6 per cent from the previous month but were still up by 13.7 per cent from the same point a year ago. Grocery prices were up by 11.4 per cent annually, increasing from the 11.0 per cent gain year-on-year gain reported in October.
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West Texas Intermediate was up by 2.9 per cent at US$78.41 per barrel.
The TSX Composite Index was stronger, up 264.21 points or 1.37 per cent to close at 19,571.10 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 1.80
Linamar Corp.——————–up $ 0.78 at $ 62.15
Maple Leaf Foods—————–up $ 0.84 at $ 24.56
Nutrien Ltd.———————up $ 0.97 at $100.82
Ritchie Bros Auctioneers Inc.—-up $ 1.78 at $ 75.74
Farmers Edge Inc.—————-dn $ 0.02 at $ 0.27
(All figures are in Canadian dollars.)
