Compiled by MarketsFarm
WINNIPEG, Jan. 18 (MarketsFarm) – The Canadian dollar pulled back on Wednesday, giving up recent gains due to a reversal in crude oil prices.
The loonie closed at US$0.7441 or US$1=C$1.3439, compared to Tuesday’s close of US$0.7468 or US$1=C$1.3390. On the U.S. Dollar Index, the greenback nudged up 0.024 of a point at 102.165.
Benchmark crude oil prices stepped back on Wednesday, which snapped an eight-day rally. However, market expectations of China’s economy to ramp up in 2023 tempered further declines.
Brent crude oil pulled back US$1.16 at US$84.76 per barrel. West Texas Intermediate (WTI) crude oil shed 90 cents at US$79.28/barrel. Western Canadian Select (WCS) lost US$1.60 at US$56.20/barrel.
The TSX Composite Index finished Wednesday slipping 81.23 points at 20,376.23.
Gold was down US$4.70 at US$1,905.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.29 at $ 1.91 Farmers Edge Inc. dn $ 0.015 at $ 0.25 Linamar Corp. dn $ 0.38 at $ 65.66 Maple Leaf Foods dn $ 0.42 at $ 25.85 Nutrien Ltd. up $ 2.32 at $104.45 Ritchie Bros Auctioneers Inc. up $ 0.31 at $ 80.28
(All figures are in Canadian dollars.)
