Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 5 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, dropping sharply as the United States dollar strengthened while crude oil prices tumbled.
The loonie closed at US$0.7670 or US$1=C$1.23038, compared to Monday’s close of US$0.7772 or US$1=C$1.2867.
On the U.S. Dollar Index, the greenback surged ahead 1.411 points at 106.320.
Benchmark crude oil prices were down hard on Tuesday as fears of a global recession generated the commodity’s worst day in three months.
Brent crude oil retreated US$10.59 at US$102.91 per barrel. West Texas Intermediate (WTI) crude oil dropped US$8.80 at US$99.63 per barrel. Western Canadian Select (WCS) gave up US$8.74 at US$81.37 per barrel.
The TSX Composite Index was lost 194.70 points to finish Tuesday at 18,834.16.
Gold fell US$34.90 at US$1,766.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.34
Farmers Edge Inc. dn $ 0.03 at $ 1.66
Linamar Corp. dn $ 1.93 at $ 53.16
Maple Leaf Foods up $ 0.36 at $ 25.77
Nutrien Ltd. dn $ 4.98 at $ 97.37
Ritchie Bros Auctioneers Inc. dn $ 2.23 at $ 84.04
(All figures are in Canadian dollars.)
