By MarketsFarm
WINNIPEG, July 28 (MarketsFarm) – The Canadian dollar was virtually unchanged on Tuesday, as crude oil prices pulled back and the United States dollar remained weak.
The loonie finished at US$0.7478 or US$1=C$1.3373, compared to Monday when it closed at US$0.7475 or US$1=C$1.3378.
Benchmark crude oil prices were slightly lower on Tuesday, ahead of a report from the Energy Information Administration scheduled to be released tomorrow. Also, the markets continued to wait for the U.S. Congress to pass either the Republican or Democrat economic stimulus package.
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Brent crude oil was dipped 22 cents at US$43.19 per barrel. West Texas Intermediate (WTI) crude oil was down 64 cents at US$40.96 per barrel. Western Canadian Select (WCS) crude oil lost 96 cents at US$31.46 per barrel.
Gold pushed higher on Tuesday after falling back in overnight trading. With continued weakness in the U.S. greenback, gold has been on the upswing and gained US$15.41 to finish at US$1,957.65 per ounce.
The TSX Composite Index was down 40.01 points on Tuesday at 16,111.32.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.83
Linamar Corp. dn $ 0.17 at $ 40.40
Maple Leaf Foods up $ 1.10 at $ 27.59
Nutrien Ltd. dn $ 0.33 at $ 44.26
Ritchie Bros Auctioneers Inc. up $ 0.18 at $ 59.57
Rocky Mountain Dealerships Inc. up $ 0.03 at $ 3.83
(All figures are in Canadian dollars.)
