Canadian Financial Close: Interest rate hike boosts dollar

Your reading list

By Commodity News Service Canada

WINNIPEG, Sept. 6 – The Canadian dollar received a bump following the Bank of Canada’s announcement this morning that it was increasing its benchmark lending rate to 1% from 0.75%. The loonie rose to 82 cents U.S. for the first time since June of 2015 before slipping back down to 81.54 cents U.S. at today’s close (C$1.2264 per US$1.)
It closed yesterday at 80.83 cents U.S. or C$1.2371 per US$1.
The S&P/TSX composite moved lower through the day following the interest rate hike announced by the Bank of Canada with IT (-0.59%), telecommunications (-0.45%)and financials (-0.34%) all taking hits. The index overall fell 30.31 points (-0.20%) to close at 15,059.83.

Canadian Financial Close: Loonie retreats, crude oil jumps

Glacier FarmMedia | MarketsFarm – The Canadian dollar took a step back after the release of economic news from Statistics Canada….

Meanwhile, the three major U.S. indexes were up with the tech-heavy Nasdaq climbing by 0.28%, or 17.74 points to 6,393.31. The S&P 500 gained 0.31% or 7.69 points to 2,465.54 and the Dow Jones gained 0.25% or 54.25 points to 21,807.57.
U.S. refineries along the Texas coast are gradually starting to reopen following Hurricane Harvey, which added to a more bullish outlook for the energy sector. However, Hurricane Irma is now approaching the southern U.S.
WTI crude rose 45 cents U.S today, closing at US$49.11.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.03 at $ 25.23
Agrium Incorporated———-up $ 0.93 at $121.29
Buhler Industries————– $ 0.00 at $ 4.45
Maple Leaf Foods————-dn $ 0.05 at $ 33.93
Potash Corp. of Sask———up $ 0.24 at $ 22.62

(All figures are in Canadian dollars.)