Canadian Financial Close: Loonie, gold down after Trump re-election

Glacier FarmMedia | MarketsFarm – The Canadian dollar dived on Wednesday hours following Donald Trump’s re-election as President of the United States.

The loonie was at US$0.7176 or US$1=C$1.3935, compared to US$0.7218 or US$1=C$1.3854 on Tuesday. The United States Dollar Index jumped 1.66 points at 105.09.

Crude oil recovered most of its losses from this morning. West Texas Intermediate (WTI) was down US$0.08 at US$71.91 per barrel. Brent crude oil dropped US$0.34 at US$75.19/barrel.

The TSX/S&P Composite Index rallied 249.55 points at 24,637.45.

The rising U.S. dollar and stock markets placed immense pressure on gold, which fell $79.00 per ounce at US$2,670.70.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.40

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 2.78     at $ 58.87

Maple Leaf Foods                 up  $ 0.46     at $ 22.58

Nutrien Ltd.                     dn  $ 0.99     at $ 69.05

RB Global Inc.                   up  $ 4.58     at $124.43

(All figures are in Canadian dollars.)