WINNIPEG – The Canadian dollar was down on Tuesday while crude oil continued to rise.
The loonie was at US$0.7772 or US$1=C$1.2867 on Tuesday, down from Monday’s close of US$0.7829 or US$1=C$1.2773.
The United States Dollar Index declined 0.23 of a point to 99.07.
As the conflict between Russia and Ukraine rages on, both the U.S. and the United Kingdom announced on Tuesday they were banning imports of Russian oil. The U.S. will also ban Russian natural gas and coal. Brent crude oil jumped US$5.86 per barrel to US$129.07. West Texas Intermediate (WTI) crude oil rose US$5.19 to US$124.59/barrel. Western Canadian Select (WCS) climbed US$3.39 to US$110.96.
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The TSX/S&P Composite Index’s downturn was extended for another day, losing 72.37 points to 21,232.03.
Gold skyrocketed US$61.70 per ounce to US$2,057.60. Meanwhile, a surge in nickel prices forced the London Metal Exchange on Tuesday to suspend nickel trading until Friday at the earliest.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.50
Farmer’s Edge Inc. up $ 0.05 at $ 3.27
Linamar Corp. dn $ 2.37 at $ 51.05
Maple Leaf Foods up $ 0.63 at $ 28.22
Nutrien Ltd. dn $ 5.11 at $122.22
Ritchie Bros Auctioneers Inc. dn $ 0.18 at $ 72.58
(All figures are in Canadian dollars.)
