Canadian Financial Close: C$ strengthens as U.S. votes

By MarketsFarm

WINNIPEG, Nov. 3 (MarketsFarm) – The Canadian dollar was stronger on Tuesday, with gains in outside equity and energy markets providing support.
The Canadian dollar closed at US$0.7607 or US$1=C$1.3145, which compares with Friday’s North American close of US$0.7543 or US$1=C$1.3257.
Ideas that Democrat Joe Biden will win the United States presidential election had investors showing some renewed optimism over a possible pandemic stimulus package for the country. However, while Biden is leading in the polls, the outcome of a number of key battleground states could still tip the electoral college balance to incumbent Donald Trump.

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Solid factory data out of Europe and China contributed to the firm tone in the Canadian dollar, as world equity markets regained recently lost ground.
West Texas Intermediate crude oil was up by 3.40 per cent, at US$38.05 per barrel.
The TSX Composite Index was up on the day, gaining 242.28 points, or 1.54 per cent, to close at 15,939.15 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————- $ 0.00 at $ 2.25
Linamar Corp.——————–dn $ 0.12 at $ 44.31
Maple Leaf Foods—————–dn $ 0.69 at $ 24.21
Nutrien Ltd.———————dn $ 4.46 at $ 50.54
Ritchie Bros Auctioneers Inc.—-up $ 1.41 at $ 85.02
Rocky Mountain Dealerships Inc.–dn $ 0.04 at $ 6.94

(All figures are in Canadian dollars.)