Canadian Financial Close: C$ strengthens

By MarketsFarm

WINNIPEG, Aug. 4 (MarketsFarm) – The Canadian dollar was firmer on Tuesday, as gains in the outside equity and energy markets provided support.
The Canadian dollar closed at US$0.7478 or US$1=C$1.3372, which compares with Friday’s North American close of US$0.7460 or US$1=C$1.3404.
Expectations for a new pandemic stimulus package in the United States accounted for some of the strength in the financial markets, which helped underpin the Canadian dollar as investors showed an increased comfort in riskier assets.
West Texas Intermediate crude oil was up by about 1.3 per cent, at US$41.55 per barrel.
The TSX Composite Index was stronger, gaining 198.83 points, or 1.23 per cent, to close at 16,368.03 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————-dn $ 0.15 at $ 2.70
Linamar Corp.——————–up $ 0.04 at $ 40.04
Maple Leaf Foods—————–up $ 0.13 at $ 29.59
Nutrien Ltd.———————up $ 2.95 at $ 46.57
Ritchie Bros Auctioneers Inc.—-up $ 0.90 at $ 61.93
Rocky Mountain Dealerships Inc.–dn $ 0.05 at $ 4.50

(All figures are in Canadian dollars.)


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