Compiled by MarketsFarm
WINNIPEG, June 28 (MarketsFarm) – The Canadian dollar was weaker on Wednesday as the United States dollar added strength, however the loonie’s retreat was tempered by higher crude oil prices.
The dollar closed at US$0.7545 or US$1=C$1.3254, compared to Tuesday’s finish of US$0.7590 or US$1=C$1.3175. On the U.S. Dollar Index, the greenback gained 0.498 of a point at 102.625.
Following a weak start earlier on Wednesday, benchmark crude oil prices pushed higher after the U.S. Energy Information Administration reported the country’s crude inventories fell 9.6 million barrels over the last week.
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Brent crude oil advanced US$1.37 at US$73.63 per barrel, while West Texas Intermediate (WTI) was up US$1.48 at US$69.18, and Western Canadian Select (WCS) rose US$1.65 at US$57.88.
The TSX Composite Index added 85.76 points on Wednesday to close at 19,818.85.
Gold was down US$4.90 at US$1,918.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.05 Farmers Edge Inc. dn $ 0.01 at $ 0.185 Linamar Corp. up $ 1.38 at $ 68.95 Maple Leaf Foods up $ 0.34 at $ 25.40 Nutrien Ltd. up $ 0.65 at $ 78.54 Ritchie Bros Auctioneers Inc. up $ 0.77 at $ 77.62
(All figures are in Canadian dollars.)
