Canadian Financial Close: Loonie down, TSX soars

Glacier FarmMedia | MarketsFarm – The Canadian dollar dipped below the 72 United States cent mark on Tuesday as the country’s inflation rate slowed down in March.

The loonie ended the day at US$0.7177 or US$1=C$1.3934, compared to US$0.7204 or US$1=C$1.3881 on Monday. Statistics Canada reported earlier today the year-by-year inflation rate was 2.3 per cent in March, compared to 2.6 per cent in February. The main driver behind the decline was falling prices for gasoline and travel tours.

The United States Dollar Index saw the greenback gain 0.60 of a point at 100.24.

Crude oil prices were relatively steady. Brent crude oil was down three U.S. cents at US$64.85 per barrel. West Texas Intermediate lost one U.S. cent at US$61.52/barrel.

The TSX/S&P Composite Index rose 201.40 points at 24,067.93, moving above the 24,000-point mark for the first time since April 3.

Gold improved US$22.30 per ounce at $3,248.60.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.45     at $ 48.66

Maple Leaf Foods                 dn  $ 0.01     at $ 24.08

Nutrien Ltd.                     up  $ 0.62     at $ 72.91

RB Global Inc.                   up  $ 0.70     at $136.38

(All figures are in Canadian dollars.)