Canadian Financial Close: Loonie dips a little

By MarketsFarm

WINNIPEG, Jan. 21 (MarketsFarm) – The Canadian dollar was slightly lower at market close on Tuesday, due to losses on the Toronto Stock Exchange.

The loonie finished the day at US$0.7653 or US$1=C$1.3067, which compares with Monday’s close of US$0.7661 or C$1.3053.

The TSX/S&P Composite Index was down 26.13 on Tuesday to close at 17,571.26 points, following the downward trend in the U.S. stock markets.

Those markets quickly fell Tuesday after reports surfaced of a case of coronavirus was discovered in the U.S. The Dow Jones dropped 149.82 to close at 29,198.28 points. The NASDAQ was down 18.14 to finish at 9,370.81, and the S&P 500 slipped 8.75 to end the day at 3,320.85 points.

Benchmark crude oil prices were lower on Tuesday due to expectations of U.S. shale oil production to increase to 9.2 million barrels per day come next month.

Brent crude oil was down 68 cents at US$64.52 per barrel. West Texas Intermediate (WTI) slipped 20 cents at US$58.34 per barrel. However, Western Canadian Select (WCS) gained 55 cents to close at US$34.77 per barrel.

Gold was down US$1.55 on Tuesday to close at US$1,559.23 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 2.80
Linamar Corp. dn $ 0.36 at $ 47.68
Maple Leaf Foods up $ 0.14 at $ 24.84
Nutrien Ltd. dn $ 0.55 at $ 61.00
Ritchie Bros Auctioneers Inc. dn $ 0.61 at $ 57.02
Rocky Mountain Dealerships Inc. dn $ 0.03 at $ 6.82
(All figures are in Canadian dollars.)


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