By MarketsFarm
WINNIPEG, July 14 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, as investors adjusted positions ahead of Wednesday’s Bank of Canada interest rate decision.
The Canadian dollar closed at US$0.7344 or US$1=C$1.3616, which compares with Monday’s North American close of US$0.7371 or US$1=C$1.3567.
Analysts generally expect the Bank of Canada will hold its key overnight rate steady at 0.25 per cent. The accompanying statement will be followed closely for signs of future moves and the Bank’s thoughts on economic recovery.
There were no significant domestic economic releases on Tuesday.
West Texas Intermediate crude oil was up 0.5 per cent at US$40.31 per barrel.
The TSX Composite Index was stronger, gaining 269.04 points, or 1.72 per cent, to close at 15,908.45 points.
Canada’s agricultural sector performed as follows:
Buhler Industries—————- $ 0.00 at $ 2.47
Linamar Corp.——————–up $ 0.26 at $ 38.05
Maple Leaf Foods—————–up $ 0.05 at $ 27.66
Nutrien Ltd.———————dn $ 0.38 at $ 44.91
Ritchie Bros Auctioneers Inc.—-up $ 0.82 at $ 57.02
Rocky Mountain Dealerships Inc.–up $ 0.08 at $ 4.00
(All figures are in Canadian dollars.)
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