Canadian Financial Close: Loonie down, U.S. inflation rises

The Canadian dollar underwent a small decline on Tuesday.

The loonie closed at US$0.7408 or US$1=C$1.3499, compared to US$0.7412 or US$1=C$1.3491 on Monday.

The United States Dollar Index increased 0.09 of a point at 102.95. The U.S. Labor Department reported this morning that the country’s core consumer price index (CPI), which excludes food and energy costs, increased 0.4 per cent from January and 3.8 per cent from last year.

Crude oil prices were lower due to the inflation data and a bearish U.S. oil production outlook. Brent crude oil was down US$0.12 at US$82.09 per barrel. West Texas Intermediate (WTI) eased off US$0.18 at US$77.75/barrel.

The TSX/S&P Composite Index gained 61.80 points at 21,831.02.

Gold fell US$26.10 at US$2,162.50 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.16

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.35     at $ 70.36

Maple Leaf Foods                 dn  $ 0.20     at $ 22.96

Nutrien Ltd.                     dn  $ 0.31     at $ 71.47

RB Global Inc.                   up  $ 0.39     at $102.07

(All figures are in Canadian dollars.)