Canadian Financial Close: Loonie closes beneath 73 cents
U.S. dollar makes gains
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar fell back on Tuesday, losing almost a quarter of a cent due to gains in the United States dollar.
The loonie closed at US$0.7297 or US$1=C$1.3705, compared to Monday’s finish of US$0.7320 or US$1=C$1.3661. On the U.S. Dollar Index, the greenback added 0.301 of a point at 104.855.
Benchmark crude oil prices were relatively steady on Tuesday, as the Middle East risk premium has largely been removed, while OPEC+ production cuts still hover over the market and limit the declines. However, there’s been talk that the alliance could increase its output following its June meeting.
Brent crude oil dipped six cents at US$83.27 per barrel and West Texas Intermediate tacked on seven cents at US$78.55.
The TSX Composite Index bumped up 31.20 points on Tuesday, to close at 22,322.50.
Gold pulled back US$8.70 at US$2,322.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.23 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.86 at $ 64.87 Maple Leaf Foods up $ 0.07 at $ 23.53 Nutrien Ltd. up $ 2.02 at $ 75.82 RB Global Inc. up $ 1.79 at $ 98.54
(All figures are in Canadian dollars)
