Canadian Financial Close: Canadian dollar shows strength

By MarketsFarm

WINNIPEG, March 26 (MarketsFarm) – The Canadian dollar was up slightly on Tuesday, reflecting a strong day for stocks and oil.

The Canadian dollar closed at US$.7470 or US$1=C$1.3386, down from Monday’s close of US$.7452 or C$=1.3420.

The S&P/TSX Composite Index gained 89.30 points to close at 16,155.16.

The NASDAQ closed up, gaining 53.98 to close at 7,691.52 points. Similarly, The Dow Jones gained 140.90 points to close at 25,657.73. The S&P 500 Index raised by 20.10 to close at 2,818.46 points. Further gains in the stock market were capped by a weak U.S. housing market and a general lack of domestic consumer confidence.

Oil prices were on the rise on Monday amongst a continually tightening global supply. Prices have gained steadily since the beginning of 2019, despite concerns of weakening demand.

West Texas Intermediate crude oil gained US$1.23 to close at US$60.05 per barrel, while Brent crude oil gained 87 cents to close at US$68.08 per barrel.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients——-up $ 0.02 at $ 17.79
Buhler Industries————–unch at $ 3.61
Linamar Corp ——————dn $ 0.39 at $ 46.74
Maple Leaf Foods—————up $ 0.22 at $ 30.23
Nutrien Ltd. ——————up $ 0.61 at $ 67.73
Ritchie Bros Auctioneers Inc.–up $ 0.40 at $ 44.75
Rocky Mountain Dealership Inc.-dn $ 0.24 at $ 8.84

(All figures are in Canadian dollars.)


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