By MarketsFarm
WINNIPEG, April 30 (MarketsFarm) – The Canadian dollar was down at market close on Tuesday due to a sluggish economy.
The dollar finished Tuesday at US$0.7450 or US$1=C$1.3423, which compares with Monday’s close of US$0.7432 or C$1.3456.
Statistics Canada reported the country’s gross domestic product retreated 0.1 per cent in February, compared to a gain of 0.3 per cent in January.
Benchmark oil prices were up on Tuesday as civil strife has become more widespread in Venezuela. A simmering rebellion could turn increasingly violent after opposition leader Juan Guaido called for the Venezuelan military to help oust President Nicolas Maduro.
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West Texas Intermediate crude oil picked up 36 cents to close at US$63.86 per barrel. Brent crude oil gained 74 cents to close at US$72.78 per barrel.
With weakness in energy stocks, the TSX/S&P Composite Index was down 19.64 points on Tuesday to finish at 16,580.73 points.
Gold was up US$3.70 on Tuesday at US$1,285.20 per ounce.
Canada’s agricultural sector fared as follows:
AGT Food and Ingredients up $ 0.04 at $ 17.99
Buhler Industries unchanged at $ 3.61
Linamar Corp. dn $ 0.01 at $ 50.82
Maple Leaf Foods up $ 0.31 at $ 31.26
Nutrien Ltd. up $ 0.44 at $ 72.66
Ritchie Bros Auctioneers Inc. up $ 0.09 at $ 46.62
Rocky Mountain Dealerships Inc. dn $ 0.14 at $ 9.21
(All figures are in Canadian dollars.)
