WINNIPEG – The Canadian dollar fell on Tuesday amid volatility in crude oil prices.
The loonie was at US$0.8035 or US$1=C$1.2446 on Tuesday, down from Monday’s close at US$0.8102 or US$1=C$1.2343. Meanwhile, the U.S. Dollar Index was up 0.35 points at 92.56.
Benchmark crude oil prices dropped on Tuesday, erasing gains from the day before after OPEC+ nations failed to reach a deal to increase oil output. Brent crude oil plunged US$2.29 per barrel to US$74.87. West Texas Intermediate (WTI) crude oil lost US$1.43 to US$73.73/barrel. Western Canadian Select (WCS) crude oil tumbled US$1.23 to US$60.08/barrel.
The TSX Composite Index moved up 18.37 points to 20,300.03.
Gold advanced US$5.40 per ounce to US$1,797.17.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.03 at $ 3.28
Farmer’s Edge Inc. up $ 0.28 at $ 12.13
Linamar Corp. dn $ 2.34 at $ 75.11
Maple Leaf Foods dn $ 0.22 at $ 25.58
Nutrien Ltd. dn $ 1.28 at $ 73.60
Ritchie Bros Auctioneers Inc. up $ 0.48 at $ 74.03
(All figures are in Canadian dollars.)
