Canadian Financial Close: Loonie up on wholesale data

By MarketsFarm

WINNIPEG, June 25 (MarketsFarm) – The Canadian dollar was stronger at market close on Tuesday, as Statistics Canada reported a 1.7 per cent gain in the country’s wholesale trade from March to April.

The dollar finished the day at US$0.7591 or US$1=C$1.3174, which compares with Monday’s close of US$0.7579 or C$1.3194.

The TSX/S&P Composite Index was down 152.19 points on Tuesday to finish at 16,371.28, as the market saw declines in its 11 major sectors.

The United States markets fell following comments from U.S. Federal Reserve Chair Jerome Powell. The fed chair said the central bank is insulated from short-term political pressures as policymakers wrestle with whether to cut rates amid slowing growth, according to the Globe and Mail.

The Dow Jones dropped 172.32 points to finish at 26,548.22. The NASDAQ lost 120.98 points to end at 7,884.72. The S&P 500 was down 27.97 to close at 2,918.87.

Benchmark oil prices were mixed Tuesday. Brent crude oil was up 22 cents to close at US$65.08 per barrel. West Texas Intermediate (WTI) crude oil was down three cents to close at US$57.87 per barrel.

As of June 22, Western Canadian Select (WCS) crude oil was up 25 cents at US$44.47 per barrel. The price differential between WCS and WTI increased by 17 cents yesterday to US$13.23 per barrel.

Gold was up US$8.40 on Tuesday to close at US$1,426.60 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.96
Linamar Corp. dn $ 0.34 at $ 47.44
Maple Leaf Foods dn $ 0.01 at $ 29.59
Nutrien Ltd. dn $ 1.11 at $ 71.25
Ritchie Bros Auctioneers Inc. dn $ 1.17 at $ 44.52
Rocky Mountain Dealerships Inc. up $ 0.09 at $ 7.85
(All figures are in Canadian dollars.)


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