Canadian Financial Close: C$ weakens Tuesday

By Phil Franz-Warkentin

     Glacier FarmMedia MarketsFarm – The Canadian dollar was weaker on Tuesday as broad gains in the United States dollar internationally put some pressure on the currency.

The Canadian dollar settled at US$0.7417 or US$1=C$1.3483 on Tuesday, which compares with Monday’s close of US$0.7443 or US$1=C$1.3436.

Canada’s consumer price index increased by 3.4 per cent on an annual basis in December, which was in line with pre-report expectations and compares with the 3.1 per cent year-on-year inflation reported in November, according to a report from Statistics Canada.

Housing starts in the country hit 249,300 units in December, according to a report from the Canadian Mortgage and Housing Corporation (CMHC), surpassing the revised 210,900 units reported the previous month.

Crude oil posted losses, with West Texas Intermediate crude oil down by one per cent at US$71.95 per barrel.

The TSX Composite Index was weaker, losing 113.79 points to close at 20,948.09 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-dn  $ 0.23    at $  2.24

Linamar Corp.——————–up  $ 0.89    at $ 63.98

Maple Leaf Foods—————–dn  $ 0.04    at $ 25.90

Nutrien Ltd.———————dn  $ 0.79    at $ 66.74

RB Global Inc.——————-up  $ 0.85    at $ 86.95

Farmers Edge Inc.—————-dn  $ 0.005   at $  0.34

(All figures are in Canadian dollars.)