By MarketsFarm
WINNIPEG, Aug. 20 (MarketsFarm) – The Canadian dollar was stronger on Wednesday.
The dollar finished the day at US$0.7531 or US$1=C$1.3278, which compares with Friday’s close of US$0.7506 or US$1=C$1.3323.
Global equities finished mostly higher, after minutes from the United States Federal Reserve meeting in July showed the central bank’s reticence to cut interest rates. Some officials argued to cut the interest rate by half a percentage point, while others argued for the rate to be left untouched. Eventually, the rate was cut by a quarter of a point.
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The TSX Composite Index closed higher by 95.92 points at 16,309.23. The S&P 500 gained 23.92 to close at 2,924.43. Similarly, the Dow Jones gained 240.29 points to finish at 26,202.73. The NASDAQ was up 71.65 to finish at 8,020.21.
Benchmark oil prices were mixed, due to data showing domestic inventories have depleted but refined product inventories are up. Brent crude oil was up by 36 U.S. cents to close at US$60.39 per barrel. West Texas Intermediate (WTI) crude oil lost 22 U.S. cents to close at US$55.91 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 2.67
Linamar Corp. up $ 0.28 at $ 40.77
Maple Leaf Foods up $ 0.03 at $ 32.93
Nutrien Ltd. up $ 0.03 at $ 65.53
Ritchie Bros Auctioneers Inc. up $ 0.20 at $ 52.48
Rocky Mountain Dealerships Inc. up $ 0.07 at $ 6.62
(All figures are in Canadian dollars.)
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