Canadian Financial Close: C$ weakens ahead of Fed announcement

By MarketsFarm

WINNIPEG, July 27 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, as weakness in Chinese equity markets and general economic uncertainty had investors booking profits.
The Canadian dollar closed at US$0.7950 or US$1=C$1.2578 on Tuesday, which compares with Monday’s North American close of US$0.7969 or US$1=C$1.2549.
Positioning ahead of Wednesday’s interest rate announcement from the United States Federal Reserve was another feature, with investors uncertain what the COVID-19 Delta variant will mean for the global economic recovery.
Crude oil held relatively steady on the day, with West Texas Intermediate up by 0.04 per cent at US$71.94 per barrel.
The TSX Composite Index was firm, up 8.39 points, or 0.04 per cent, to close at 20,173.35 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————- $ 0.00 at $ 3.08
Linamar Corp.——————–dn $ 0.58 at $ 72.31
Maple Leaf Foods—————–dn $ 0.07 at $ 24.72
Nutrien Ltd.———————dn $ 0.66 at $ 73.87
Ritchie Bros Auctioneers Inc.—-dn $ 0.49 at $ 74.54
Farmers Edge Inc.—————-up $ 0.05 at $ 10.60

(All figures are in Canadian dollars.)

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