Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 7 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, as the United States dollar gained ground and crude oil prices slipped back.
The loonie closed at US$0.7923 or US$1=C$1.2621, compared to Friday’s close of US$0.7988 or US$1=C$1.2518.
The decline also came the day before the Bank of Canada issues its latest assessment of the country’s economy.
On the U.S. Dollar Index the greenback rose 0.512, improving to 92.545 points.
Benchmark crude oil prices were lower on Tuesday, as the stronger U.S. dollar weighed on values. However those declines were tempered by the ongoing shut down of 80 per cent of oil production in the Gulf of Mexico and a sharp uptick in China’s oil imports.
Read Also
Canadian dollar and business outlook
Glacier FarmMedia — The Canadian dollar was holding near unchanged Monday morning. At 9:08 a.m. CDT the Canadian dollar was…
Brent crude oil was down 63 cents at US$71.59 per barrel. West Texas Intermediate (WTI) crude oil gave up 93 cents at US$68.36 per barrel. Western Canadian Select (WCS) lost US$1.06 at US$56.19 per barrel.
The TSX Composite Index dipped 12.85 points on Tuesday at 20,808.58.
Gold fell US$37.80 at US$1,795.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.23
Farmers Edge Inc. dn $ 0.31 at $ 4.91
Linamar Corp. up $ 0.48 at $ 72.24
Maple Leaf Foods dn $ 0.44 at $ 26.70
Nutrien Ltd. up $ 2.04 at $ 78.64
Ritchie Bros Auctioneers Inc. dn $ 0.46 at $ 78.36
(All figures are in Canadian dollars.)
