By MarketsFarm
WINNIPEG, June 5 (MarketsFarm) – The Canadian dollar held steady on Monday, lacking any clear direction ahead of the Bank of Canada’s looming interest rate decision.
The Canadian dollar settled at US$0.7444 or US$1=C$1.3434 on Monday, which compares with Friday’s close of US$0.7443 or US$1=C$1.3435.
Most market participants expect the Bank will hold its key overnight rate steady at 4.50 per cent on Wednesday, although there are some economists expecting a 25-point hike given recent data. The United States Federal Reserve is set to release its latest interest rate decision next week.
Crude oil retreated from early gains to settle near unchanged, with West Texas Intermediate up by 0.1 per cent at US$71.79 per barrel.
The TSX Composite Index was weaker, down by 93.01 points or 0.46 per cent to close at 19,931.62 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-dn $ 0.17 at $ 2.05
Linamar Corp.——————–up $ 1.36 at $ 63.72
Maple Leaf Foods—————–dn $ 0.11 at $ 25.99
Nutrien Ltd.———————up $ 0.82 at $ 74.42
Ritchie Bros Auctioneers Inc.—-dn $ 0.94 at $ 72.92
Farmers Edge Inc.—————-up $ 0.005 at $ 0.1850
(All figures are in Canadian dollars.)
