WINNIPEG – The Canadian dollar stumbled on Tuesday, despite a weakened United States dollar, due to increasing concern over COVID-19.
The loonie was at US$0.7962 or US$1=C$1.2559 on Tuesday, pulling back from Monday’s close at US$0.7984 or US$1=C$1.2525. On the U.S. Dollar Index, the greenback fell 0.30 points to 92.30 points.
Benchmark crude oil prices rebounded slightly on Tuesday. Brent crude oil increased by US$0.66 per barrel to US$62.81. West Texas Intermediate (WTI) crude oil jumped by US$0.80 to US$59.45/barrel. Western Canadian Select (WCS) crude oil gained US$0.54 to US$49.41/barrel.
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The TSX Composite Index closed on a record-high for the second straight day, rallying by 77.35 points to 19.104.14.
Gold reached a two-week high, surging by US$15.68 at US$1,743.96 per ounce, mainly due to the state of the U.S. greenback and falling U.S. Treasury yields.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.45
Linamar Corp. dn $ 0.88 at $ 74.61
Maple Leaf Foods dn $ 0.23 at $ 28.26
Nutrien Ltd. up $ 1.12 at $ 70.12
Ritchie Bros Auctioneers Inc. dn $ 0.52 at $ 76.44
Farmer’s Edge Inc. up $ 0.18 at $ 17.88
(All figures are in Canadian dollars.)
