Canadian Financial Close: Loonie bumps up
Aboutface for Greenback
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar pushed above 74 U.S. cents on Tuesday, due to a weaker United States dollar and increases in crude oil.
The Canadian dollar closed at US$0.7404 or US$1=C$1.3506, compared to Monday’s finish of US$0.7393 or US$1=C$1.3527. On the U.S. Dollar Index, the greenback reversed course to give up 0.309 of a point at 104.010.
Benchmark crude oil prices were modestly higher on Tuesday, as higher Middle East tensions edged out the hawkish outlook toward interest rates from the U.S. Federal Reserve.
Brent crude oil gained 70 cents at US$78.69 per barrel, and West Texas Intermediate rose 71 cents at US$72.49.
The TSX Composite Index bumped up 85.85 points to close Tuesday at 20,957.74.
Gold added US$9.00 at US$2,051.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.06 at $ 2.23 Farmers Edge Inc. up $ 0.005 at $ 0.35 Linamar Corp. up $ 1.39 at $ 65.58 Maple Leaf Foods dn $ 0.42 at $ 26.00 Nutrien Ltd. up $ 0.11 at $ 67.98 RB Global Inc. up $ 2.65 at $ 89.52 (All figures are in Canadian dollars)
