By MarketsFarm
WINNIPEG, June 11 (MarketsFarm) – The Canadian dollar was down by about a penny on the day, along with a steep decline in global stock indices.
The dollar finished the day at US$0.7378 or US$1=C$1.3553, compared to Wednesday when it closed at US$0.7468 or US$1=C$1.3390.
United States stocks were lower after the Federal Reserve announced it would keep interest rates around zero for the foreseeable future, highlighting the ongoing economic uncertainty caused by the COVID-19 pandemic.
The TSX Composite Index was down 650.41 points to close at 15,050.92. The Dow Jones Industrial Average slumped by about seven per cent on the day, losing 1,861.82 points at 25,128.17. The S&P 500 lost nearly six per cent on the day, down by 188.04 to close at 3,002.10. The NASDAQ lost 527.62 points, down by over five per cent at 9,492.73.
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Benchmark crude oil prices were weaker on the day. West Texas Intermediate (WTI) was down US$3.42 to close at US$36.18. Brent Crude was down US$3.40 at US$38.33.
Canada’s agricultural sector fared as follows:
Buhler Industries               unchanged     at $ 2.53
Linamar Corp.                   dn $ 3.28    at $ 40.38
Maple Leaf Foods                dn $ 0.36    at $ 27.39
Nutrien Ltd.                    dn $ 2.06    at $ 48.45
Ritchie Bros Auctioneers Inc.   dn $ 1.82    at $ 53.83
Rocky Mountain Dealerships Inc. dn $ 0.50    at $ 4.89
(All figures are in Canadian dollars.)
