By MarketsFarm
WINNIPEG, Nov. 7 (MarketsFarm) – The Canadian dollar was weaker on Tuesday as losses in crude oil weighed on the energy-linked currency.
The Canadian dollar settled at US$0.7267 or US$1=C$1.3760 on Tuesday, which compares with Monday’s close of US$0.7312 or US$1=C$1.3676.
Canada’s merchandise exports were up by 2.7 per cent in September while imports increased by 1.0 per cent, as a result the country’s merchandise trade deficit widened to C$2.0 billion, from C$949 million in August, according to a report from Statistics Canada.
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Economic data out of China showing a 6.4 per cent drop in exports on the year and a narrowing trade surplus weighed heavily on crude oil prices, despite the ongoing conflict in the Middle East. West Texas Intermediate was down by 4.19 per cent at US$77.43 per barrel.
The TSX Composite Index was weaker, losing 163.35 points to close at 19,575.59 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.08 at $ 2.34
Linamar Corp.——————–dn $ 0.72 at $ 63.51
Maple Leaf Foods—————–up $ 0.08 at $ 25.67
Nutrien Ltd.———————dn $ 0.66 at $ 73.05
Ritchie Bros Auctioneers Inc.—-up $ 0.33 at $ 91.73
Farmers Edge Inc.—————-dn $ 0.015 at $ 0.105
(All figures are in Canadian dollars.)
