By MarketsFarm
WINNIPEG, Nov. 19 (MarketsFarm) – The Canadian dollar was lower at market close on Tuesday, as crude oil prices and comments by a senior Bank of Canada official weighed on values.
The loonie finished the day at US$0.7555 or US$1=C$1.3237, which compares with Monday’s close of US$0.7568 or C$1.3214.
Benchmark oil prices fell on Tuesday due to concerns about excess global supply and the lack of substantial progress made with the United States/China trade talks.
Brent crude oil dropped US$1.57 to close at US$60.87 per barrel, and West Texas Intermediate (WTI) slid US$1.85 to close at US$55.20 per barrel. Western Canadian Select crude plummeted US$4.45 at US$36.45 per barrel.
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Carolyn Wilkins, senior deputy governor of the Bank of Canada indicated on Tuesday that the central bank is preparing to cut its key interest rate. Added to this was a decline in Canadian manufacturing sales in September and a labour dispute at Canadian National Railway.
The TSX/S&P Composite Index was down on Tuesday, by 13.71 points to close at 17,011.40 points.
Gold was up 90 cents on Tuesday, closing at US$1,472.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.60
Linamar Corp. up $ 0.33 at $ 45.42
Maple Leaf Foods dn $ 0.30 at $ 22.92
Nutrien Ltd. up $ 0.01 at $ 63.24
Ritchie Bros Auctioneers Inc. up $ 0.50 at $ 56.00
Rocky Mountain Dealerships Inc. dn $ 0.10 at $ 6.36
(All figures are in Canadian dollars.)
