Canadian Financial Close: Loonie takes another step back
Gains in crude oil evaporate
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar slipped further back on Tuesday as crude oil gave up its increases.
The loonie closed at US$0.7189 or US$1=C$1.3911, compared to Monday’s finish of US$0.7197 or US$1=C$1.3895. On the U.S. Dollar Index, the greenback dipped 0.013 of a point at 104.170.
Earlier gains in benchmark crude oil prices faded on Tuesday, as hopes of ending Israel’s invasion of Lebanon edged out the US$1.4 trillion stimulus package in China.
Brent crude oil lost 22 cents at US$71.20 per barrel and West Texas Intermediate was down 13 cents at US$67.25.
The TSX Composite Index closed flat with a small loss of 3.11 points on Tuesday at 24,562.55.
Gold advanced US$28.90 at US$2,784.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.47 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 2.31 at $ 59.17 Maple Leaf Foods dn $ 0.21 at $ 21.25 Nutrien Ltd. dn $ 0.74 at $ 66.40 RB Global Inc. up $ 1045 at $120.59
(All figures are in Canadian dollars)
