WINNIPEG, Nov. 25 (MarketsFarm) – The Canadian dollar settled near its highest levels in two weeks relative to its United States counterpart, with gains in crude oil behind some of the strength.
The Canadian dollar closed at US$0.7691 or US$1=C$1.3003, which compares with Tuesday’s North American close of US$0.7673 or US$1=C$1.3033.
Weekly data from the U.S. Energy Information Administration showed tighter-than-expected oil supplies, accounting for some of the strength in the oil market. Optimism of COVID-19 vaccines also remained supportive.
West Texas Intermediate crude oil was up by 1.9 per cent, at US$45.79 per barrel.
The TSX Composite Index was up on the day, gaining 38.82 points, or 0.22 per cent, to close at 17,313.07 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————- $ 0.00 at $ 2.48
Linamar Corp.——————–up $ 0.83 at $ 61.24
Maple Leaf Foods—————–up $ 0.02 at $ 26.01
Nutrien Ltd.———————up $ 0.60 at $ 63.10
Ritchie Bros Auctioneers Inc.—-up $ 1.42 at $ 87.58
Rocky Mountain Dealerships Inc.–up $ 0.05 at $ 7.08
(All figures are in Canadian dollars.)