By MarketsFarm
WINNIPEG, March 19 (MarketsFarm) – The Canadian dollar inched over 75 U.S. cents on Tuesday as the federal Liberal government presented their 2019 budget.
The Canadian dollar closed at US$0.753 or C$=1.3292, which compares with Monday’s close of US$0.7493, or C$=1.3345.
The S&P/TSX Composite Index was down by 63.27 to 16,188.10 points at market close.
The NASDAQ closed at a high, rising by a modest 9.47 to close at 7,723.95 points. Contrastingly, the Dow Jones lost 26.72 points after a string of steady gains, closing at 25,887.38.
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Oil prices stalled after three months of growth. Experts said Chinese pushback to trade negotiations may be the cause of oil prices stagnating, as one of the world’s largest energy consumers. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to China at the end of March to continue trade negotiations.
West Texas Intermediate crude oil dropped 23 cents to close at $58.86 per barrel, while Brent crude oil lost six cents to close at $67.48 per barrel.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients——-dn $ 0.06 at $ 17.79
Buhler Industries————–unchanged at $ 3.61
Linamar Corp ——————up $ 0.06 at $ 48.24
Maple Leaf Foods—————up $ 1.99 at $ 29.10
Nutrien Ltd. ——————dn $ 0.42 at $ 71.75
Ritchie Bros Auctioneers Inc.–up $ 0.08 at $ 43.37
Rocky Mountain Dealership Inc.-up $ 0.12 at $ 9.24
(All figures are in Canadian dollars.)
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