WINNIPEG – The Canadian dollar strengthened on Tuesday as oil prices recovered.
The loonie was at US$0.7974 or US$1=C$1.2540 on Tuesday, up from Monday’s close at US$0.7959 or US$1=C$1.2565. Earlier in the day, the United States Senate passed a US$1 trillion infrastructure bill investing in roads and bridges.
The United States Dollar Index was up 0.14 points at 93.08.
Benchmark crude oil prices rebounded on Tuesday after reaching two-and-a-half month lows on Monday. Brent crude oil gained US$1.71 per barrel to US$70.75. West Texas Intermediate (WTI) crude oil increased US$1.94 to US$68.42/barrel. Western Canadian Select (WCS) crude oil jumped US$1.90 to US$55.10/barrel.
The TSX/S&P Composite Index rose 58.32 points to 20.495.74.
Gold slipped US$1.02 per ounce to US$1,728.92.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.00
Farmer’s Edge Inc. dn $ 0.04 at $ 9.00
Linamar Corp. up $ 1.23 at $ 73.56
Maple Leaf Foods up $ 0.32 at $ 25.95
Nutrien Ltd. up $ 4.16 at $ 80.15
Ritchie Bros Auctioneers Inc. dn $ 0.11 at $ 74.44
(All figures are in Canadian dollars.)
