WINNIPEG – The Canadian dollar dropped again on Tuesday while crude oil slipped back further.
The loonie was at US$0.7922 or US$1=C$1.2623 on Tuesday, compared to Monday’s close at US$0.7956 or US$1=C$1.2569.
The United States Commerce Department reported on Tuesday that retail sales declined by 1.1 per cent in July, mainly due to lower motor vehicle sales. Despite this, the U.S. Dollar Index jumped 0.50 of a point at 93.12.
Benchmark crude oil prices continued to go down on Tuesday. Brent crude oil slipped US$0.30 per barrel to US$69.21. West Texas Intermediate (WTI) crude oil dropped US$0.49 to US$66.80/barrel. Western Canadian Select (WCS) crude oil fell US$0.89 to US$53.76/barrel.
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Risk aversion due to the spread of the COVID-19 Delta variant saw the TSX/S&P Composite Index lose 119.83 points to 20.363.59.
Gold retreated US$2.40 per ounce to US$1,785.05.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.12 at $ 3.12
Farmer’s Edge Inc. dn $ 0.07 at $ 4.33
Linamar Corp. dn $ 1.61 at $ 71.08
Maple Leaf Foods up $ 0.24 at $ 27.00
Nutrien Ltd. dn $ 1.61 at $ 76.65
Ritchie Bros Auctioneers Inc. up $ 0.05 at $ 79.25
(All figures are in Canadian dollars.)
