WINNIPEG, Aug. 11 (MarketsFarm) – The Canadian dollar finished over 75 United States cents on Tuesday, despite weakness in financial markets.
The dollar finished the day at US$0.7524 or US$1=C$1.3291, compared to Monday when it closed at US$0.7488 or US$1=C$1.3354.
Losses in U.S. stock indices were led by poor performances in the tech sector, as ride-sharing giants Lyft and Uber have been ordered to treat their California-based drivers as employees as opposed to independent contractors.
The TSX Composite Index dropped by 108.5 points to close at 16,497.01.
Benchmark crude oil prices took a dip after hitting three-week highs yesterday. West Texas Intermediate (WTI) was down 40 cents to close at US$41.54. Brent Crude was down 50 cents at US$44.49.
Canada’s agricultural sector fared as follows:
Buhler Int. dn $ 0.18 at $ 2.61
Linamar Corp. up $ 1.07 at $ 42.84
Maple Leaf Foods up $ 0.12 at $ 28.90
Nutrien Ltd. up $ 2.19 at $ 51.19
Ritchie Bros Auctioneers Inc. dn $ 0.94 at $ 76.66
Rocky Mountain Dealerships Inc. up $ 0.03 at $ 4.60
(All figures are in Canadian dollars.)