By MarketsFarm
WINNIPEG, May 10 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, hitting its lowest level in 18 months relative to its United States counterpart.
The Canadian dollar closed at US$0.7685 or US$1=C$1.3012 on Tuesday, which compares with Monday’s North American close of US$0.7714 or US$1=C$1.2964.
A reduced appetite for risk in the global financial markets, amid mounting inflationary concerns and the ongoing COVID-19 pandemic, had investors turning to safe havens like the U.S. dollar.
Crude oil also continued its slide on Tuesday, weighing on the energy-linked Canadian currency. West Texas Intermediate crude oil was down by 3.71 per cent, at US$99.27 per barrel.
The TSX Composite Index was weaker, down 109.63 points, or 0.55 per cent, to close at 19,890.06 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.55
Linamar Corp.——————–dn $ 0.44 at $ 47.86
Maple Leaf Foods—————–dn $ 0.15 at $ 26.87
Nutrien Ltd.———————up $ 1.96 at $122.81
Ritchie Bros Auctioneers Inc.—-up $ 8.10 at $ 74.41
Farmers Edge Inc.—————-up $ 0.01 at $ 2.53
(All figures are in Canadian dollars.)
