WINNIPEG – The Canadian dollar closed at a low unseen since November 2020 on Tuesday, hours after the release of a pair of reports from Statistics Canada.
The loonie closed at US$0.7493 or US$1=C$1.3345 on Tuesday, down from US$0.7526 or US$1=C$1.3288 on Monday. The national data agency reported that the yearly inflation rate declined to seven per cent in August, compared to 7.6 per cent in July. However, food inflation rose to a record-high 10.8 per cent. Meanwhile, there were 997,000 Canadian job vacancies in the second quarter, another record-high.
Read Also
Global Markets: Chevron secures major win
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
The United States Dollar Index gained 0.40 of a point to 110.13. The U.S. Federal Reserve is expected to raise its key interest rate on Sept. 21.
Crude oil prices were lower on Tuesday. Brent crude oil declined US$1.09 per barrel to US$90.91. West Texas Intermediate (WTI) crude oil dropped US$1.28 at US$84.85/barrel. Meanwhile, Western Canadian Select (WCS) was down US$1.22 per barrel to US$62.70.
The TSX/S&P Composite Index fell 193.69 points to 19,368.69.
Gold was down US$4.20 at US$1,674.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.12 at $ 1.95
Farmer’s Edge Inc. dn $ 0.03 at $ 0.78
Linamar Corp. dn $ 1.11 at $ 64.11
Maple Leaf Foods dn $ 0.49 at $ 22.25
Nutrien Ltd. up $ 1.19 at $120.13
Ritchie Bros Auctioneers Inc. dn $ 0.65 at $ 86.38
(All figures are in Canadian dollars.)
