By MarketsFarm
WINNIPEG, Aug. 20 (MarketsFarm) – The Canadian dollar was slightly lower on Tuesday, amidst a generally bleak global economic outlook.
The dollar finished the day at US$0.7506 or US$1=C$1.3323, which compares with Friday’s close of US$0.7520 or US$1=C$1.3298.
Global equities finished lower today due to continued recession concerns.
“It’s kind of a choppy environment,” Dan Skelly, head of equity model portfolios at Morgan Stanley Wealth Management, said in a phone interview to Bloomberg.
“The liquidity in August is going to be pretty poor, so that certainly in my view caps the potential upside, but it does raise the risk that you do have a more pronounced sell-off at some point.”
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The TSX Composite Index closed lower by 90.74 points at 16,213.31. The S&P 500 lost 23.14 to close at 2,900.51. Similarly, the Dow Jones dropped 173.35 points to finish at 26,962.44. The NASDAQ was down 54.25 to finish at 7,948.56.
Benchmark oil prices were mixed, looking to trade negotiation progress for guidance and coming up lacking. Brent crude oil was up by 17 U.S. cents to close at US$59.91 per barrel. West Texas Intermediate (WTI) crude oil lost three U.S. cents to close at US$56.18 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 2.67
Linamar Corp. up $ 0.08 at $ 40.49
Maple Leaf Foods dn $ 0.14 at $ 32.90
Nutrien Ltd. dn $ 1.28 at $ 65.63
Ritchie Bros Auctioneers Inc. dn $ 0.09 at $ 52.28
Rocky Mountain Dealerships Inc. unch at $ 6.55
(All figures are in Canadian dollars.)
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