Canadian Financial Close: Canadian dollar lower on Thursday

By MarketsFarm

WINNIPEG, Oct. 3 (MarketsFarm) – The Canadian dollar was weaker on Thursday, holding on at just over 75 U.S. cents.

The dollar finished the day at US$0.7502 or US$1=C$1.3330, compared to Wednesday when it closed at US$0.7522 or US$1=C$1.3294

Global equities made meagre gains today after several consecutive days in the red. The optimism was due to rumours of the Federal Reserve cutting interest rates for the third time this year. That helped to temper concerns of a general economic slowdown.

The TSX Composite Index closed higher by 58.06 points at 16,369.03. The S&P 500 gained 23.02 to close at 2,910.63. Similarly, the Dow Jones increased by 122.42 points to finish at 26,201.04. The NASDAQ was down 83.01 to finish at 7,872.26.

Benchmark oil prices were steady to lower following reports that U.S. crude inventories were higher than initially anticipated. Brent crude oil was down by four U.S. cents to close at US$57.65 per barrel. West Texas Intermediate (WTI) crude oil was down by 33 U.S. cents to close at US$52.31 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries unch at $ 3.65
Linamar Corp. dn $ 4.23 at $ 36.74
Maple Leaf Foods dn $ 0.30 at $ 29.42
Nutrien Ltd. dn $ 0.79 at $ 64.77
Ritchie Bros Auctioneers Inc. up $ 0.15 at $ 52.16
Rocky Mountain Dealerships Inc. dn $ 0.14 at $ 7.01

(All figures are in Canadian dollars.)

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