By MarketsFarm
WINNIPEG, April 21 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, following poor performances in both the oil and financial sector.
The dollar finished the day at US$0.7041 or US$1=C$1.4203, compared to Monday when it closed at US$0.7099 or US$1=C$1.4086.
Benchmark crude oil prices have continued lower due to significant constraints on storage capacity, coupled with low demand because of COVID-19. West Texas Intermediate (WTI) managed to stay in the green today, closing at US$9.06 per barrel. Brent crude was dropped by over 20 per cent at US$19.80 per barrel.
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Global stock indices dropped by the largest amount in weeks on the heels of the collapsing oil sector. The S&P 500 fell by three per cent, losing 86.60 to close at 2,736.56. The TSX Composite Index was also down by three per cent, down by 448 points to close at 13,3940.06. The Dow Jones Industrial Average lost 2.67 per cent, down by 631.56 points at 23,018.88. The NASDAQ was down by almost 3.5 per cent, losing 297.50 to finish at 8,263.23.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.70
Linamar Corp. dn $ 2.85 at $ 29.76
Maple Leaf Foods dn $ 0.96 at $ 25.02
Nutrien Ltd. dn $ 3.00 at $ 47.59
Ritchie Bros Auctioneers Inc. up $ 0.11 at $ 58.29
Rocky Mountain Dealerships Inc. dn $ 0.05 at $ 4.11
(All figures are in Canadian dollars.)
