By MarketsFarm
WINNIPEG, Oct. 6 (MarketsFarm) – The Canadian dollar was virtually unchanged on Tuesday, following a Statistics Canada report on trade and increases in crude oil prices.
The dollar finished at US$0.7535 or US$=C$1.3272, compared to Monday’s close of US$0.7536 or US$1=C$1.3269.
The federal agency reported Canada’s trade deficit eased from C$2.53 billion in July to C$2.45 billion in August.
In the United States, the markets reversed course from yesterday after U.S. President Donald Trump called off negotiations between Republicans and Democrats over the coronavirus economic relief package. The Dow Jones dropped 375.88 to end the day at 27,772.76, with the NASDAQ falling 171.15 at 11,161.34 points and the S&P 500 losing 44.85 at 3,363.78 points.
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That spilled over into the TSX Composite Index, which dropped 174.06 points on Monday to finish at 16,236.13.
Benchmark crude oil prices were stronger on Tuesday as oil production in the Gulf Mexico was shutting down ahead of Hurricane Delta. A strike by oil workers in Norway also pushed up values.
Brent crude oil gained 92 cents at US$42.21 per barrel. West Texas Intermediate (WTI) crude oil rose 95 cents at US$40.17 per barrel. Western Canadian Select (WCS) crude was up US$1.01 at US$30.50 per barrel.
Gold lost US$26.85 at US$1,886.69 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 2.27
Linamar Corp. dn $ 0.03 at $ 41.60
Maple Leaf Foods dn $ 0.51 at $ 26.38
Nutrien Ltd. dn $ 0.98 at $ 53.33
Ritchie Bros Auctioneers Inc. up $ 0.49 at $ 81.90
Rocky Mountain Dealerships Inc. up $ 0.16 at $ 5.61
(All figures are in Canadian dollars.)
