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Canadian Financial Close: Loonie improves, crude oil retreats

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Glacier FarmMedia | MarketsFarm – The Canadian dollar moved up for the second straight day on Tuesday.

The loonie closed at US$0.6958 or US$1=C$1.4371, up from US$0.6939 or US$1=C$1.4411 on Monday. The United States Dollar Index lost 0.72 of a point at 109.24 ahead of an inflation report tomorrow morning which could decide the Federal Reserve’s future plans to cut interest rates.

Crude oil fell back on Tuesday after a report from the U.S. Energy Information Administration projected steady demand and slightly greater oil output for 2025. Brent crude oil dropped US$0.87 at US$80.14 per barrel. West Texas Intermediate fell US$1.03 at US$77.79/barrel.

The TSX/S&P Composite Index gained 52.26 points at 24,588.58.

Gold added $12.20 per ounce at US$2,690.80.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up $ 0.24      at $  3.39

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.01     at $ 55.34

Maple Leaf Foods                 dn  $ 0.11     at $ 21.52

Nutrien Ltd.                     up  $ 0.47     at $ 74.19

RB Global Inc.                   dn  $ 0.25     at $128.39

(All figures are in Canadian dollars.)