By MarketsFarm
WINNIPEG, March 20 (MarketsFarm) – The Canadian dollar held steady at just over 75 U.S. cents on Tuesday. United States government data reported tightening domestic oil supplies, which buoyed Canadian currency.
The Canadian dollar closed at US$.7509 or C$=1.3317, slightly down from Monday’s close of US$0.7523 or C$=1.329.
The S&P/TSX Composite Index was down by 20.54 to 16,167.56 points at market close.
The NASDAQ closed up, rising by just 5.02 to close at 7,728.97 points. Contrastingly, the Dow Jones fell by 141.71 points to close at 25,745.67. The S&P 500 Index lost 8.34 to close at 2,824.23 points.
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Oil prices climbed to a four-month high above $60 per barrel, thanks to tightening domestic oil supplies. Crude prices have risen by almost a third this year, thanks to supply cuts from OPEC and its allies, according to Reuters. Further gains were capped, however, by concerns over global economic growth, fuelled by the ongoing U.S. – China trade war.
West Texas Intermediate crude oil gained $1.09 to close at $60.12 per barrel, while Brent crude oil gained 84 cents to close at $68.45 per barrel.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients——-dn $ 0.03 at $ 17.82
Buhler Industries————–unchanged at $ 3.62
Linamar Corp ——————dn $ 0.37 at $ 47.87
Maple Leaf Foods—————up $ 0.12 at $ 29.22
Nutrien Ltd. ——————dn $ 0.39 at $ 71.06
Ritchie Bros Auctioneers Inc.–dn $ 0.42 at $ 44.95
Rocky Mountain Dealership Inc.-up $ 0.01 at $ 9.25
(All figures are in Canadian dollars.)
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