WINNIPEG – The Canadian dollar dropped on Wednesday after an announcement from the Bank of Canada (BoC)
The loonie closed at US$0.7256 or US$1=C$1.3782, compared to US$0.7283 or US$1=C$1.3731 on Tuesday. The BoC left its key interest rate unchanged at five per cent, but also raised the possibility of future rate hikes.
The United States Dollar Index was up 0.25 of a point at 106.51, hitting a week-long high.
Crude oil prices were on the rise after Israel indicated a buildup to a possible ground invasion of Gaza. Brent crude oil jumped US$1.95 at US$90.02 per barrel. West Texas Intermediate (WTI) surged US$1.57 to US$85.31/barrel.
The TSX/S&P Composite Index shed 38.64 points to 18,947.85.
Gold added US$5.50 at US$1,991.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.31
Farmer’s Edge Inc. dn $ 0.01 at $ 0.10
Linamar Corp. dn $ 0.29 at $ 62.16
Maple Leaf Foods up $ 0.38 at $ 25.70
Nutrien Ltd. dn $ 0.52 at $ 77.33
RB Global Inc. dn $ 0.19 at $ 86.72
(All figures are in Canadian dollars.)
