By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar fell back on Tuesday, losing almost a quarter of a cent due to gains in the United States dollar.
The loonie closed at US$0.7297 or US$1=C$1.3705, compared to Monday’s finish of US$0.7320 or US$1=C$1.3661. On the U.S. Dollar Index, the greenback added 0.301 of a point at 104.855.
Benchmark crude oil prices were relatively steady on Tuesday, as the Middle East risk premium has largely been removed, while OPEC+ production cuts still hover over the market and limit the declines. However, there’s been talk that the alliance could increase its output following its June meeting.
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Brent crude oil dipped six cents at US$83.27 per barrel and West Texas Intermediate tacked on seven cents at US$78.55.
The TSX Composite Index bumped up 31.20 points on Tuesday, to close at 22,322.50.
Gold pulled back US$8.70 at US$2,322.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.23 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.86 at $ 64.87 Maple Leaf Foods up $ 0.07 at $ 23.53 Nutrien Ltd. up $ 2.02 at $ 75.82 RB Global Inc. up $ 1.79 at $ 98.54
(All figures are in Canadian dollars)
