By MarketsFarm
WINNIPEG, Aug. 26 (MarketsFarm) – The Canadian dollar closed at a seven-month high on Wednesday, due to continued weakness in its United States counterpart.
The Canadian dollar finished at US$0.7602 or US$1=C$1.3155, compared to Tuesday when it closed at US$0.7579 or US$1=C$1.3194.
The U.S. Dollar Index dipped below 93.00 points, as it remains weak compared to other major world currencies.
Benchmark crude oil prices were mixed on Wednesday. There was support coming from the shut-down of oil production facilities in the Gulf of Mexico ahead of Hurricane Laura. There was pressure from the COVID-19 pandemic which is poised to stymie the U.S. and global economic recoveries.
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Brent crude oil lost 20 cents at US$45.66 per barrel. West Texas Intermediate (WTI) crude oil was up five cents at US$43.40 per barrel. Western Canadian Select (WCS) crude oil fell 51 cents at US$31.63 per barrel.
The TSX Composite Index was higher on Tuesday, up 172.49 points to finish at 16,789.97.
Gold jumped US$24.89 at US$1,953.08 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.07 at $ 2.59
Linamar Corp. dn $ 0.73 at $ 41.84
Maple Leaf Foods dn $ 0.17 at $ 29.86
Nutrien Ltd. up $ 0.01 at $ 50.09
Ritchie Bros Auctioneers Inc. up $ 0.04 at $ 80.38
Rocky Mountain Dealerships Inc. up $ 0.09 at $ 5.77
(All figures are in Canadian dollars.)
