WINNIPEG – The Canadian dollar dipped slightly to end the day on Wednesday.
The loonie closed at US$0.7790 or US$1=C$1.2837, down from US$0.7797 or US$1=C$1.2826 on Tuesday.
The United States Dollar Index jumped 0.30 of a point at 102.16. Officials at the Federal Reserve, in its policy meeting earlier this month, said in its minutes released today that at least two 50 basis-point increases should be expected later this year.
Crude oil prices were higher on Wednesday due to tightened U.S. gasoline stockpiles and increased demand for the upcoming Memorial Day weekend. Brent crude oil advanced US$0.84 per barrel at US$114.40. West Texas Intermediate (WTI) crude oil increased US$1.09 at US$110.86/barrel. Western Canadian Select (WCS) jumped US$1.07 to US$94.44.
The TSX/S&P Composite Index gained 97.55 points at 20,383.75.
Gold dropped US$13.10 per ounce to US$1,852.30.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.06 at $ 2.31
Farmer’s Edge Inc. dn $ 0.12 at $ 2.35
Linamar Corp. up $ 0.75 at $ 51.85
Maple Leaf Foods up $ 0.13 at $ 26.98
Nutrien Ltd. dn $ 1.28 at $125.94
Ritchie Bros Auctioneers Inc. dn $ 0.03 at $ 75.93
(All figures are in Canadian dollars.)
