By MarketsFarm
WINNIPEG, Sept. 3 (MarketsFarm) – The Canadian dollar was lower after the long weekend, dipping just below the 75 U.S. cent mark.
The dollar finished the day at US$0.7495 or US$1=C$1.3343, which compares with Friday’s close of US$0.7522 or US$1=C$1.3295.
Global equities were lower today following fresh tariffs that were implemented by both the United States and China over the weekend. The ongoing trade war has re-ignited concerns regarding global economic growth.
The TSX Composite Index closed lower by 42.84 points at 16,399.23. The S&P 500 lost 20.19 to close at 2,906.27. Similarly, the Dow Jones dropped 285.26 points to finish at 26,118.02. The NASDAQ was down 88.72 to finish at 7,874.16.
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Benchmark oil prices were lower, as recent manufacturing data stoked fears of a weakening global economy. Brent crude oil was down by 38 U.S. cents to close at US$58.28 per barrel. West Texas Intermediate (WTI) crude oil lost US$1.15 to close at US$53.95 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 2.64
Linamar Corp. dn $ 1.11 at $ 39.33
Maple Leaf Foods dn $ 0.03 at $ 31.63
Nutrien Ltd. dn $ 1.37 at $ 65.68
Ritchie Bros Auctioneers Inc. up $ 0.02 at $ 52.59
Rocky Mountain Dealerships Inc. up $ 0.04 at $ 6.69
(All figures are in Canadian dollars.)
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