Canadian Financial Close: Dollar down with oil and stock market

By Commodity News Service Canada

WINNIPEG, Sept. 4 (CNS) – The Canadian dollar closed lower
Tuesday, dragged down by a drop in the price of oil and the
stock market.

The Canadian dollar settled Tuesday at US$0.7586 or
C$1.3182, compared to Friday’s North American close of US$0.7660
or C$1.3055.

Oil prices were on the climb Tuesday but ultimately
finished lower. While the market readied itself for potential
supply disruptions due to Tropical Storm Gordon, the gains were
capped off by a report of U.S. stock piles rose last week. Brent

crude futures lost 0.59 per cent to US$77.69 per barrel. U.S
West Texas Intermediate crude was down 0.72 per cent to US$69.30
per barrel.

Gold prices fell Tuesday, as concerns of an escalating
trade war between the U.S. and China pummelled emerging market
currencies. Spot gold fell 0.6 per cent to US$1,193.78 per
ounce, while U.S. gold futures for December delivery also
dropped 0.6 per cent to US$1,199.20 per ounce.

In Toronto, the S&P/TSX Composite closed lower Tuesday,
falling 101.58 points, or 0.62 per cent, to settle at 16,161.30.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients———dn $ 0.12 at $ 18.33
Buhler Industries—————-dn $ 0.08 at $ 3.54
Linamar Crop.——————–dn $ 1.37 at $ 56.01
Maple Leaf Foods—————–dn $ 0.44 at $ 31.16
Nutrien Ltd.———————dn $ 0.43 at $ 72.91
Ritchie Bros Auctioneers Inc.—-up $ 0.67 at $ 50.42
Rocky Mountain Dealerships Inc.–dn $ 0.39 at $ 10.04

(All figures are in Canadian dollars.)

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