Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) – The Canadian dollar was stronger on Tuesday, getting support from a weaker United States dollar, higher crude oil prices and a sharp uptick in the Toronto Stock Exchange.
The loonie closed at US$0.7367 or US$1=C$1.3574, compared to Monday’s close of US$0.7320 or US$1=C$1.3662.
On the U.S. Dollar Index, the greenback dropped 1.591 points at 110.065.
Benchmark crude oil prices continued higher on Tuesday, rallying on the OPEC+ alliance’s planned production cuts of one million to two million barrels per day.
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Brent crude oil added US$2.60 at US$91.46 per barrel. West Texas Intermediate (WTI) crude oil gained US$2.51 at US$86.14/barrel. Meanwhile, Western Canadian Select (WCS) bumped up 86 cents at US$61.90 per barrel.
The TSX Composite Index advanced 489.80 points to finish Tuesday at 19,370.99.
Gold jumped US$31.50 at US$1,733.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.03
Farmers Edge Inc. dn $ 0.01 at $ 0.59
Linamar Corp. up $ 2.48 at $ 57.56
Maple Leaf Foods up $ 0.29 at $ 21.29
Nutrien Ltd. up $ 3.70 at $119.19
Ritchie Bros Auctioneers Inc. up $ 2.45 at $ 88.44
(All figures are in Canadian dollars.)
