Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 7 (MarketsFarm) – The Canadian dollar nudged a little higher on Tuesday, benefitting from a weaker United States dollar and stronger crude oil prices.
The loonie closed at US$0.7965 or US$1=C$1.2555, compared to Monday’s close of US$0.7959 or US$1=C$1.2564.
On the U.S. Dollar Index, the greenback gave up 0.115 of a point at 102.180.
Benchmark crude oil prices were higher on Tuesday, due to tight global supplies and the U.S. dollar taking a step back.
Brent crude oil gained US$1.58 at US$121.09 per barrel. West Texas Intermediate (WTI) crude oil increased US$1.52 at US$120.02 per barrel. Western Canadian Select (WCS) jumped US$3.74 at US$101.45 per barrel.
The TSX Composite Index climbed 109.12 points to finish Tuesday at 20,928.21.
Gold advanced US$11.40 at US$1,855.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.37
Farmers Edge Inc. dn $ 0.05 at $ 2.28
Linamar Corp. dn $ 0.13 at $ 56.90
Maple Leaf Foods dn $ 0.22 at $ 27.50
Nutrien Ltd. dn $ 3.93 at $112.10
Ritchie Bros Auctioneers Inc. up $ 0.24 at $ 77.32
(All figures are in Canadian dollars.)
