Glacier FarmMedia MarketsFarm – The Canadian dollar gained some ground on Wednesday.
The loonie closed at US$0.7342 or US$1=C$1.3809, compared to US$0.7220 or US$1=C$1.3851 on Tuesday.
The United States Dollar Index dropped half of a point at 104.05. The U.S. Federal Reserve announced on Wednesday it was leaving its key interest rates unchanged, but suggested a rate cut was imminent.
Crude oil prices jumped on Wednesday due to declining U.S. stockpiles and the death of a Hamas leader after a missile strike in Tehran. Brent crude oil rose US$2.09 at US$80.72 per barrel. West Texas Intermediate (WTI) jumped US$3.76 at US$78.49/barrel.
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The TSX/S&P Composite Index added 286.14 points at 23,110.81 on the strength of a tech rally to close above the 23,000-point mark for the first time ever.
Gold surged US$41.20 at US$2,493.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind.                     unchanged      at $ 2.03
Farmer’s Edge Inc.              unchanged     at $ 0.345
Linamar Corp.                   up $ 1.82    at $ 68.87
Maple Leaf Foods                up  $ 0.11    at $ 25.21
Nutrien Ltd.                    up  $ 0.51     at $ 70.81
RB Global Inc.                  up $ 0.03    at $109.99
(All figures are in Canadian dollars.)
