Canadian Financial Close: Loonie, crude oil in the red

Glacier FarmMedia | MarketsFarm – The Canadian dollar took a step back on Tuesday as United States markets re-opened following the Memorial Day weekend.

The loonie ended the day at US$0.7260 or US$1=C$1.3775, compared to US$0.7283 or US$1=C$1.3731 on Monday. The U.S. Dollar Index was up 0.50 of a point at 99.61 after President Donald Trump walked back from proposed 50 per cent tariffs on goods from the European Union.

Crude oil prices were lower ahead of OPEC+’s meeting this week which would confirm an output hike next month. Brent crude oil declined US$0.53 at US$64.21 per barrel. West Texas Intermediate was down US$0.52 at US$61.01/barrel.

The TSX/S&P Composite Index rose 195.87 points at 26,269.00.

Gold shed US$63.50 per ounce at $3,302.30.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 1.59     at $ 62.61

Maple Leaf Foods                 up  $ 0.23     at $ 27.24

Nutrien Ltd.                     up  $ 1.16     at $ 82.61

RB Global Inc.                   dn  $ 2.73     at $144.69

(All figures are in Canadian dollars.)