Canadian Financial Close: Loonie, inflation rate down

The Canadian dollar took a step back coming out of the Thanksgiving Day weekend.

The loonie was at US$0.7244 or US$1=C$1.3805, compared to US$0.7267 or US$1=C$1.3761 on Friday. Statistics Canada reported today the country’s inflation rate declined to 1.6 per cent, its lowest level in more than three years.

The Bank of Canada was closed on Monday due to Thanksgiving.

The United States Dollar Index was down 0.05 of a point at 100.25.

Crude oil plunged on Tuesday after Israel said it will not attack Iranian crude oil facilities. West Texas Intermediate (WTI) lost US$2.91 at US$70.92 per barrel. Brent crude oil fell US$2.87 at US$74.59/barrel.

The TSX/S&P Composite Index shed 32.09 points at 24,439.08.

Gold jumped US$11.70 at US$2,677.30 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.45

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.87     at $ 63.79

Maple Leaf Foods                 dn  $ 0.18     at $ 22.21

Nutrien Ltd.                     dn  $ 1.42     at $ 66.08

RB Global Inc.                   up  $ 1.23     at $111.43

(All figures are in Canadian dollars.)