WINNIPEG – The Canadian dollar and crude oil prices were slowly climbing up on Tuesday.
The loonie reached another two-week high, closing at US$0.7774 or US$1=C$1.2864, up from US$0.7760 or US$1=C$1.2887 on Monday. The United States Dollar Index gained 0.55 of a point to 104.49 on Tuesday.
Crude oil prices were still rising on Tuesday as Group of Seven (G7) leaders look for ways to implement a price cap on Russian oil. Meanwhile, China reduced its COVID-19 quarantine period to seven days for overseas visitors. Brent crude oil gained US$2.89 per barrel at US$117.98. West Texas Intermediate (WTI) crude oil rose US$2.13 at US$111.70/barrel. Western Canadian Select (WCS) jumped US$1.34 per barrel to US$93.68.
The TSX/S&P Composite Index declined 35.58 points on Tuesday to 19,222.74.
Gold dropped US$3.80 at US$1,821.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.34
Farmer’s Edge Inc. unchanged at $ 1.75
Linamar Corp. dn $ 0.04 at $ 56.77
Maple Leaf Foods dn $ 0.78 at $ 25.14
Nutrien Ltd. up $ 1.19 at $109.00
Ritchie Bros Auctioneers Inc. up $ 0.08 at $ 80.56
(All figures are in Canadian dollars.)
