Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 17 (MarketsFarm) – The Canadian dollar was higher on Tuesday, due to a sharp drop in its United States counterpart and despite weaker oil prices.
The loonie closed at US$0.7792 or US$1=C$1.2834, compared to Monday’s close of US$0.7759 or US$1=C$1.2888.
On the United States Dollar Index, the greenback fell 0.810 of a point at 103.390.
Benchmark crude oil prices were lower on Tuesday, after the U.S. government announced it will allow Chevron Corp. to negotiate a license with Venezuela’s state oil producer.
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Glacier FarmMedia — The Canadian dollar stayed put on Friday, maintaining its 0.24 U.S. cent gain from the previous week….
Brent crude oil lost US$2.98 at US$111.26 per barrel. West Texas Intermediate (WTI) crude oil shed US$2.20 at US$112.00 per barrel. Western Canadian Select (WCS) gave up US$4.86 at US$95.25 per barrel.
The TSX Composite Index advanced 284.60 points to finish Tuesday at 20,491.01 on Monday.
Gold dipped 40 cents at US$1,813.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.03 at $ 2.46
Farmers Edge Inc. unchanged at $ 2.50
Linamar Corp. up $ 2.93 at $ 53.09
Maple Leaf Foods up $ 0.36 at $ 28.08
Nutrien Ltd. up $ 3.30 at $133.55
Ritchie Bros Auctioneers Inc. dn $ 0.66 at $ 79.10
(All figures are in Canadian dollars.)
