Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 29 (MarketsFarm) – Strength in the Canadian dollar continued to wane on Tuesday, as worries increased over the latest surge in global COVID-19 cases.
The loonie closed at US$0.8075 or US$1=C$1.2384, compared to Monday’s close of US$0.8107 or US$1=C$1.2335.
The Delta variant of COVID-19 has caused a good amount of concern as it spreads through Australia along with parts of Europe and Asia.
Adding to the mix was a higher United States dollar, as the greenback was up 0.169 at 92.045 points on the U.S. Dollar Index.
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Benchmark crude oil prices were higher on Tuesday, as the OPEC+ alliance postponed talks over increased production to Thursday. Saudi Arabia stressed the latest COVID-19 surge could adversely affect growing demand for oil.
Brent crude oil gained 47 cents at US$75.15 per barrel. West Texas Intermediate (WTI) crude oil rose 51 cents at US$73.42 per barrel. Western Canadian Select (WCS) increased 52 cents at US$59.40 per barrel.
The TSX Composite Index closed slightly higher by 25.77 points on Tuesday to finish at 20,171.02.
Gold fell US$19.20 at US$1,761.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.31
Farmers Edge Inc. dn $ 0.17 at $ 11.95
Linamar Corp. dn $ 0.53 at $ 78.22
Maple Leaf Foods dn $ 0.25 at $ 25.85
Nutrien Ltd. up $ 0.07 at $ 73.53
Ritchie Bros Auctioneers Inc. up $ 0.55 at $ 73.42
(All figures are in Canadian dollars.)
