WINNIPEG – The Canadian dollar moved upward on Wednesday.
The loonie closed at US$0.7372 or US$1=C$1.3565, up from US$0.7351 or US$1=C$1.3603 on Dec. 23. The Bank of Canada (BoC) did not post exchange rates on Dec. 26 and 27 due to the Christmas and Boxing Day holidays.
The United States Dollar Index gained 0.36 of a point at 104.54.
Crude oil prices were lower on Wednesday despite China easing COVID-19 restrictions and Russia banning exports of its crude oil to countries adhering to a price cap on Russian oil products. Brent crude oil retreated US$1.33 per barrel to US$83.00. West Texas Intermediate (WTI) crude oil stepped back US$0.86 at US$78.67/barrel. Western Canadian Select (WCS) dropped US$1.19/barrel to US$50.98.
The TSX/S&P Composite Index lost 222.55 points to 19,284.10.
Gold lost US$11.00 at US$1,812.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.15 at $ 1.75
Farmer’s Edge Inc. unchanged at $ 0.27
Linamar Corp. up $ 0.08 at $ 60.11
Maple Leaf Foods dn $ 0.39 at $ 23.84
Nutrien Ltd. dn $ 1.12 at $ 99.52
Ritchie Bros Auctioneers Inc. up $ 2.01 at $ 78.30
(All figures are in Canadian dollars.)
