Canadian Financial Close: Loonie barely budges
Gains in crude not enough to raise loonie
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was relatively steady, as with other markets on Tuesday.
The Canadian dollar closed at US$0.7396 or US$1=C$1.3521, compared to Monday’s finish of US$0.7399 or US$1=C$1.3515. On the U.S. Dollar Index, the greenback dipped 0.011 of a point at 103.740.
Benchmark crude oil prices were moderately higher on Tuesday, following speculation that the OPEC+ alliance could reduce its production.
Brent crude oil added 87 cents at US$83.40 per barrel and West Texas Intermediate gained US$1.04 at US$78.62.
The TSX Composite Index closed flat on Tuesday with a slight dip of 5.41 points at 21,318.90.
Gold nudged up 50 cents at US$2,039.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.17 Farmers Edge Inc. dn $ 0.005 at $ 0.34 Linamar Corp. up $ 0.77 at $ 67.35 Maple Leaf Foods up $ 0.67 at $ 23.29 Nutrien Ltd. dn $ 0.40 at $ 71.95 RB Global Inc. dn $ 0.22 at $103.90
(All figures are in Canadian dollars)
