WINNIPEG – The Canadian dollar rallied on Wednesday as stocks and commodities rose due to a renewed appetite for risk despite COVID-19 concerns.
The loonie was at US$0.7943 or US$1=C$1.2589 on Wednesday, up from Tuesday’s close at US$0.7855 or US$1=C$1.2730. The United States Dollar Index was down 0.19 points at 92.78.
Benchmark crude oil prices consolidated yesterday’s gains on Wednesday. Brent crude oil jumped US$2.85 per barrel to US$72.20. West Texas Intermediate (WTI) crude oil surged US$3.07 to US$70.27/barrel. Western Canadian Select (WCS) crude oil was lifted US$2.88 to US$56.73/barrel.
The TSX/S&P Composite Index exceeded the 20,000-point mark, rising 167.34 points to 20,110.05.
Gold fell US$6.71 per ounce to US$1,803.65.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.10
Farmer’s Edge Inc. up $ 0.03 at $ 10.03
Linamar Corp. up $ 1.40 at $ 73.84
Maple Leaf Foods dn $ 0.20 at $ 25.00
Nutrien Ltd. up $ 0.74 at $ 74.98
Ritchie Bros Auctioneers Inc. up $ 0.49 at $ 76.47
(All figures are in Canadian dollars.)