Canadian Financial Close: C$ strengthens Tuesday

The Canadian dollar was stronger on Tuesday, as softer than expected purchasing managers index (PMI) data out of the United States weighed on the U.S. currency.

The Canadian dollar settled at US$0.7314 or US$1=C$1.3673 on Tuesday, which compares with Monday’s close of US$0.7291 or US$1=C$1.3715.

Gains in crude oil were supportive for the Canadian currency, although easing tensions in the Middle East and expectations for reduced demand from India did temper the upside in the energy markets.

West Texas Intermediate crude oil was up 1.76 per cent at US$83.34 per barrel.

The TSX Composite Index was up by 139.76 points to close at 22,011.72 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.24

Linamar Corp.——————–up  $ 0.49    at $ 66.45

Maple Leaf Foods—————–up  $ 0.54    at $ 24.27

Nutrien Ltd.———————dn  $ 0.27    at $ 71.42

RB Global Inc.——————-up  $ 0.15    at $100.05

Farmers Edge Inc.—————-    $ 0.00    at $  0.345

(All figures are in Canadian dollars.)