WINNIPEG, Jan. 13 (MarketsFarm) – The Canadian dollar was stronger relative to its counterpart in the United States on Wednesday, despite broad advances for the U.S. dollar against most other major currencies.
The Canadian dollar closed at US$0.7868 or US$1=C$1.2710, which compares with Tuesday’s North American close of US$0.7846 or US$1=C$1.2746.
Advances in U.S. equity markets and a drop in the country’s Treasury yields accounted for some of the strength in the Canadian currency, according to analysts.
However, losses in crude oil tempered the advances amid concerns over rising worldwide COVID-19 cases.
West Texas Intermediate crude oil was down 0.62 per cent, at US$52.88 per barrel.
The TSX Composite Index was down on the day, losing 51.06 points, or 0.28 per cent, to close at 17,934.74 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————-dn $ 0.09 at $ 2.69
Linamar Corp.——————–dn $ 0.59 at $ 72.21
Maple Leaf Foods—————–dn $ 0.15 at $ 26.40
Nutrien Ltd.———————dn $ 1.49 at $ 67.55
Ritchie Bros Auctioneers Inc.—-dn $ 2.54 at $ 80.52
Rocky Mountain Dealerships Inc.– $ 0.00 at $ 7.40
(All figures are in Canadian dollars.)