By MarketsFarm
WINNIPEG, March 21 (MarketsFarm) – The Canadian dollar dipped below 75 U.S. cents on Thursday, as the American dollar rallied thanks to gains on Wall Street.
The Canadian dollar closed at US$.7482 or C$=1.3366, down from Tuesday’s close of US$.7509 or C$=1.3317.
The S&P/TSX Composite Index gained 77.03 points to close at 16,244.59.
The NASDAQ closed up, rising by 109.77 to close at 7,838.32 points. Similarly, the Dow Jones increased by 220.97 points to close at 25,965.39. The S&P 500 Index gained 30.79 to close at 2,855.00 points. Gains were due to a lift in technology stocks.
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Oil prices fell by nearly one per cent, but remained near 2019 highs, according to reports. “Why are oil prices not rallying through the roof? We suspect the sword of Damocles hanging over the market is currently called U.S.-Chinese trade talks,” said Tamas Varga, an analyst at oil brokerage firm PVM.
West Texas Intermediate crude oil lost 36 cents to close at $59.87 per barrel, while Brent crude oil lost 82 cents to close at $67.68 per barrel.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients——-dn $ 0.03 at $ 17.79
Buhler Industries————–dn $ 0.01 at $ 3.61
Linamar Corp ——————up $ 0.51 at $ 48.38
Maple Leaf Foods—————up $ 0.32 at $ 29.54
Nutrien Ltd. ——————dn $ 0.02 at $ 71.04
Ritchie Bros Auctioneers Inc.–up $ 0.25 at $ 45.20
Rocky Mountain Dealership Inc.-up $ 0.08 at $ 9.33
(All figures are in Canadian dollars.)
