By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was virtually unchanged on Tuesday, fending off pressure from an increase in the United States dollar and declines in crude oil.
The loonie closed at US$0.7321 or US$1=C$1.3659, compared to Monday’s finish of US$0.7319 or US$1=C$1.3663. On the U.S. Dollar Index, the greenback added 0.164 of a point at 105.285.
Benchmark crude oil prices eased back on Monday due to the upward movement in the U.S. dollar.
Brent crude oil lost US$1.01 at US$85.00 per barrel and West Texas Intermediate gave up 81 cents at US$80.82.
Read Also
Canadian Financial Close: C$ weaker Thursday
Glacier FarmMedia — The Canadian dollar was weaker on Thursday, as its United States counterpart regained lost ground in international…
Statistics Canada reported inflation in May rose to 2.9 per cent which surpassed analysis’ guesses of 2.6 per cent. The increase of the consumer price index from 2.7 per cent in April has raised the spectre of the Bank of Canada not cutting its key interest rate in July.
The TSX Composite Index slipped 60.11 points on Tuesday to close at 21,788.48.
Gold dropped US$14.00 at US$2,330.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.05 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.90 at $ 66.76 Maple Leaf Foods dn $ 0.22 at $ 22.61 Nutrien Ltd. dn $ 0.74 at $ 71.15 RB Global Inc. dn $ 0.83 at $106.05
(All figures are in Canadian dollars)
