By MarketsFarm
WINNIPEG, July 12 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, as losses in crude oil and concerns over a mounting global recession weighed on the currency.
The Canadian dollar settled at US$0.7683 or US$1=C$1.3015 on Tuesday, which compares with Monday’s North American close of US$0.7692 or US$1=C$1.3000.
The Bank of Canada is set to make its latest interest rate announcement on Wednesday, with expectations that the central bank will hike its key overnight rate by three-quarters of a point.
Crude oil was down sharply on Tuesday. West Texas Intermediate crude oil fell by 8.03 per cent at US$95.71 per barrel.
The TSX Composite Index was down by 138.16 points, or 0.73 per cent, to close at 18,678.64 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.34
Linamar Corp.——————–up $ 1.10 at $ 54.67
Maple Leaf Foods—————–up $ 0.17 at $ 26.14
Nutrien Ltd.———————dn $ 1.56 at $ 96.92
Ritchie Bros Auctioneers Inc.—-up $ 1.16 at $ 86.38
Farmers Edge Inc.—————-dn $ 0.07 at $ 1.53
(All figures are in Canadian dollars.)
