WINNIPEG – The Canadian dollar dipped slightly at Tuesday’s close.
The loonie was at US$0.7870 or US$1=C$1.2707 on Tuesday, down from Monday’s close of US$0.7886 or US$1=C$1.2680. The United States Dollar Index declined 0.07 of a point to 96.48.
Benchmark crude oil prices were stronger on Tuesday despite U.S. President Joe Biden announcing that the U.S. will release 50 million barrels from its strategic petroleum reserves in mid-December. Brent crude oil gained US$2.81 per barrel to US$82.51. West Texas Intermediate (WTI) crude oil rose US$2.03 to US$78.78/barrel. Western Canadian Select (WCS) crude oil jumped US$2.06 to US$58.96/barrel.
The TSX/S&P Composite Index increased 33.00 points to 21,453.77.
Gold continued its downward slide, falling US$16.20 per ounce to US$1,790.10.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.10 at $ 3.12
Farmer’s Edge Inc. dn $ 0.05 at $ 3.50
Linamar Corp. up $ 0.05 at $ 78.71
Maple Leaf Foods dn $ 0.11 at $ 30.23
Nutrien Ltd. dn $ 0.16 at $ 88.14
Ritchie Bros Auctioneers Inc. dn $ 0.70 at $ 88.85
(All figures are in Canadian dollars.)
