Canadian Financial Close: Canadian dollar remains steady

By MarketsFarm

WINNIPEG, Sept. 17 (MarketsFarm) – The Canadian dollar was steady on Tuesday, as crude oil prices settled back down following a record 30-year jump.

The dollar finished the day at US$0.7543 or US$1=C$1.3257, which compares with Monday’s close of US$0.7548 or US$1=C$1.3248. Also last Friday, the dollar closed at US$0.7543.

Global equities bounced back today on expectations that the United States Federal Reserve will cut interest rates tomorrow. Investors were also calculating the damage an oil shortage would do to global economies.

The TSX Composite Index closed higher by 83.44 points at 16,834.75. The S&P 500 gained 7.73 to close at 3,005.69. Similarly, the Dow Jones rose 33.98 points to finish at 27,110.80. The NASDAQ was up 32.48 to finish at 8,186.02.

Benchmark oil prices corrected downwards after surging nearly 15 per cent on Monday. Saudi Arabian officials have reported the plants have restored nearly half of the output lost due to the attacks. Brent crude oil was down by US$4.89 to close at US$64.13 per barrel. West Texas Intermediate (WTI) crude oil was down US$3.80 to close at US$59.10 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.01 at $ 3.65
Linamar Corp. dn $ 0.94 at $ 43.60
Maple Leaf Foods dn $ 0.11 at $ 31.39
Nutrien Ltd. dn $ 0.13 at $ 68.51
Ritchie Bros Auctioneers Inc. up $ 0.30 at $ 50.90
Rocky Mountain Dealerships Inc. dn $ 0.03 at $ 7.14

(All figures are in Canadian dollars.)

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