Canadian Financial Close: C$ strengthens

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger on Tuesday, hitting its highest level in eight weeks as gains in crude oil and economic optimism provided support.

The Canadian dollar settled at US$0.7363 or US$1=C$1.3581 on Tuesday, which compares with Monday’s close of US$0.7334 or US$1=C$1.3635.

Comments from United States Federal Reserve Governor Christopher Waller hinting at the possibility of rate cuts sooner rather than later weighed on the U.S. currency, which was supportive for the loonie.

West Texas Intermediate crude oil increased 2.10 per cent at US$76.41 per barrel.

The TSX Composite Index was steady, up by 4.11 points to close at 20,036.77 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.25

Linamar Corp.——————–dn  $ 0.08    at $ 57.45

Maple Leaf Foods—————–dn  $ 0.28    at $ 24.65

Nutrien Ltd.———————up  $ 0.15    at $ 75.24

Ritchie Bros Auctioneers Inc.—-dn  $ 0.75    at $ 85.84

Farmers Edge Inc.—————-    $ 0.00    at $  0.24

(All figures are in Canadian dollars.)