By MarketsFarm
WINNIPEG, July 23 (MarketsFarm) – The Canadian dollar was lower at market close on Tuesday, backing away from previously observed highs.
The dollar finished the day at US$0.7609 or US$1=C$1.3142, which compares with Monday’s close of US$0.7632 or US$1=C$1.3103.
Global stock performances were stoked higher by an announcement that United States Trade Representative Robert Lightizer and Treasury Secretary Steven Mnuchin will travel to China next Monday to resume in-person trade negotiations.
The TSX Composite Index closed higher by 53.80 points at 16,572.68. The S&P 500 gained 20.44 to close at 3,005.47. Similarly, the Dow Jones gained 177.29 to finish at 27,349.19. The NASDAQ gained 47.26 to finish at 8,251.40.
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Benchmark oil prices were higher on Tuesday after reports that the U.S. may have down a second Iranian drone over the Strait of Hormuz last week. Brent crude oil was up by US$1.02 cents to close at US$63.49 per barrel. West Texas Intermediate (WTI) crude oil gained 46 cents to close at US$56.09 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.29 at $ 2.90
Linamar Corp. up $ 1.58 at $ 45.32
Maple Leaf Foods up $ 0.23 at $ 30.13
Nutrien Ltd. up $ 1.08 at $ 68.47
Ritchie Bros Auctioneers Inc. up $ 0.12 at $ 46.69
Rocky Mountain Dealerships Inc. dn $ 0.08 at $ 7.27
(All figures are in Canadian dollars.)
