WINNIPEG – The Canadian dollar fell to its lowest point since Nov. 3 on Tuesday.
The loonie closed at US$0.7327 or US$1=C$1.3649, down from US$0.7390 or US$1=C$1.3532 on Monday. Statistics Canada reported on Tuesday that Canada’s trade surplus widened to C$1.2 billion in October, up from C$607 million from the previous month. Equifax Canada also reported on Tuesday that Canada’s consumer debt ballooned to C$2.36 trillion in the third quarter, up 7.3 per cent from the year before.
The United States Dollar Index increased 0.29 of a point at 105.58.
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Crude oil prices fell again on Tuesday due to recession fears. Brent crude oil dropped US$3.10 per barrel to US$79.58. West Texas Intermediate (WTI) crude oil fell US$2.58 at US$74.35/barrel. Western Canadian Select (WCS) was down US$2.16/barrel to US$46.89.
The TSX/S&P Composite Index plunged 252.09 points to 19,990.17.
Gold added US$2.90 at US$1,784.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.08 at $ 1.75
Farmer’s Edge Inc. up $ 0.02 at $ 0.35
Linamar Corp. dn $ 0.41 at $ 63.49
Maple Leaf Foods dn $ 0.23 at $ 24.22
Nutrien Ltd. dn $ 1.30 at $105.65
Ritchie Bros Auctioneers Inc. dn $ 0.37 at $ 74.56
(All figures are in Canadian dollars.)
