By MarketsFarm
WINNIPEG, Oct. 2 (MarketsFarm) – The Canadian dollar was weaker on Wednesday, remaining just over 75 U.S. cents.
The dollar finished the day at US$0.7522 or US$1=C$1.3294, compared to Tuesday when it closed at US$0.7551 or US$1=C$1.3243.
Global equities were lower today due to a spate of weak economic data pointing to the possibility of a global recession. A report from ADP showed U.S. jobs rose by 135,000 in September, which is under the expected gain of 140,000 according to economists polled by Bloomberg. September’s data brought the monthly average for 2019 down to 145,000 jobs added per month. On average, 214,000 jobs were added per month in 2018.
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The TSX Composite Index closed lower by 136.69 points at 16,310.97. The S&P 500 lost 52.67 to close at 2,887.15. Similarly, the Dow Jones lost 495.39 points to finish at 26,077.65. The NASDAQ was down 121.16 to finish at 7,787.52.
Benchmark oil prices also slid by more than two per cent, following reports that U.S. crude inventories were higher than initially anticipated. Brent crude oil was down by US$1.34 to close at US$57.55 per barrel. West Texas Intermediate (WTI) crude oil was down by 99 U.S. cents to close at US$52.63 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 3.65
Linamar Corp. dn $ 0.40 at $ 40.97
Maple Leaf Foods dn $ 0.14 at $ 29.72
Nutrien Ltd. dn $ 0.73 at $ 65.56
Ritchie Bros Auctioneers Inc. dn $ 0.05 at $ 52.01
Rocky Mountain Dealerships Inc. up $ 0.05 at $ 7.15
(All figures are in Canadian dollars.)
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