WINNIPEG – The Canadian dollar held steady on Tuesday despite rallies in crude oil prices.
The loonie was at US$0.8033 or US$1=C$1.2449 on Tuesday, unchanged from Monday.
The United States Dollar Index dipped 0.08 of a point to 93.97. U.S. consumer price index (CPI) data for October, used to measure inflation, will be released on Wednesday morning.
Benchmark crude oil prices rallied on Tuesday due to the U.S. opening up its land borders for non-essential travel and greater demand. Brent crude oil gained US$1.48 per barrel to US$84.91. West Texas Intermediate (WTI) crude oil jumped US$2.43 to US$84.36/barrel. Western Canadian Select (WCS) crude oil surged US$1.99 to US$64.74/barrel.
The TSX/S&P Composite Index increased 37.98 points to 21,594.52.
Gold moved up US$8.09 per ounce to US$1,832.27.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.21
Farmer’s Edge Inc. dn $ 0.15 at $ 5.13
Linamar Corp. dn $ 0.70 at $ 70.68
Maple Leaf Foods up $ 0.18 at $ 31.12
Nutrien Ltd. dn $ 0.59 at $ 85.24
Ritchie Bros Auctioneers Inc. dn $ 0.07 at $ 87.91
(All figures are in Canadian dollars.)
