Canadian Financial Close: C$ firm, but lagging world currencies

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By MarketsFarm

WINNIPEG, June 23 (MarketsFarm) – The Canadian dollar was firmer on Tuesday, but lagged other international currencies relative to the United States dollar.
The Canadian dollar closed at US$0.7399 or US$1=C$1.3516, which compares with Monday’s North American close of US$0.7383 or US$1=C$1.3545.
Better than expected economic data out of the European Union gave the euro a boost and generally weighed on the U.S. dollar, with concerns over rising COVID-19 rates in the country adding to the weakness in the currency.

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While the loonie also found some strength from the broad U.S. dollar weakness, talk that the U.S. was considering imposing tariffs on Canadian aluminum caused the domestic currency to back away from its session highs.
Crude oil was down slightly on the day, which also weighed on the energy-linked Canadian dollar.
The TSX Composite Index was stronger, gaining 47.85 points, or 0.31 per cent, to close at 15,564.75 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————- $ 0.00 at $ 2.51
Linamar Corp.——————–up $ 0.78 at $ 39.26
Maple Leaf Foods—————–dn $ 0.42 at $ 28.76
Nutrien Ltd.———————dn $ 0.50 at $ 47.68
Ritchie Bros Auctioneers Inc.—-dn $ 0.11 at $ 54.65
Rocky Mountain Dealerships Inc.–dn $ 0.15 at $ 4.35

(All figures are in Canadian dollars.)

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