Canadian financial close: C$ softens Wednesday

Glacier FarmMedia — The Canadian dollar was softer on Wednesday, amid broad strength for the United States currency internationally.

• The Canadian dollar settled at US$0.7316 or US$1=C$1.3668, which compares with Tuesday’s close of US$0.7325 or US$1=C$1.3652.
• Canada’s services economy contracted in January, according to updated purchasing managers index (PMI) data from S&P Global. The headline Business Activity index dipped to 45.8 in January from 46.5 in December, with any number below 50 showing deterioration in activity.
• Gold was up by US$43.70 at US$4,978.70 per ounce.
• West Texas Intermediate crude oil rose 1.77 per cent at US$64.33 per barrel.
• The TSX Composite Index gained 182.95 points at 32,571.55 points.

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