By Markets Farm
WINNIPEG, March 5 (MarketsFarm) – The Canadian dollar was down at market close on Tuesday, slipping under 75 U.S. cents due to slowing economic growth.
The dollar finished Tuesday at US$0.7493 or US$1=C$1.3345, which compares with Monday’s close of US$0.7509 or C$1.3317.
The Toronto Stock Exchange was up 48.41 points to finish Tuesday at 16.086.54 points.
Earlier Tuesday, the Chinese government revoked Richardson International’s registration to sell canola to China. The move appears to be connected with the legal proceedings surrounding Huawei executive Meng Wanzhou, as her extradition hearing begins Wednesday. Since January, Chinese imports of Canadian canola have slowed.
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Benchmark oil prices traded either side of steady on Tuesday. Brent crude oil rose 20 cents to close at US$65.87 per barrel.
West Texas Intermediate crude oil slipped seven cents to close at US$56.52 per barrel.
Gold gained US$1.10 on Tuesday to US$1,288.60 per ounce.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients dn $ 0.04 at $ 17.79
Buhler Industries up $ 0.01 at $ 3.62
Linamar Corp. dn $ 0.88 at $ 52.29
Maple Leaf Foods up $ 0.31 at $ 27.96
Nutrien Ltd. dn $ 0.88 at $ 72.55
Ritchie Bros Auctioneers Inc. dn $ 0.31 at $ 46.26
Rocky Mountain Dealerships Inc. dn $ 0.04 at $ 8.66
(All figures are in Canadian dollars.)
