Canadian Financial Close: Drop in crude pulls loonie lower
Possible ceasefire in Middle East spurs declines
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar continued its downward slide on Tuesday, as the energy-linked currency was pressured by sharp declines in crude oil.
The loonie closed at US$0.7322 or US$1=C$1.3657, compared to Monday’s finish of US$0.7348 or US$1=C$1.3609. On the U.S. Dollar Index, the greenback shed 0.061 of a point at 102.240.
Benchmark crude oil prices dropped on Tuesday on news of a possible Hezbollah-Israel ceasefire.
Brent crude oil gave up US$3.42 at US$77.51 per barrel and West Texas Intermediate lost US$3.27 at US$73.87.
The TSX Composite Index slipped 30.20 points on Tuesday to close at 24,072.51.
Gold fell US$24.70 at US$2,641.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.40 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.62 at $ 63.38 Maple Leaf Foods up $ 0.05 at $ 21.92 Nutrien Ltd. dn $ 1.34 at $ 66.27 RB Global Inc. up $ 1.62 at $111.09
(All figures are in Canadian dollars)
