WINNIPEG – The Canadian dollar dipped below the 79-cent United States mark as Tuesday turned into a tough day on the markets.
The loonie was at US$0.7886 or US$1=C$1.2680 on Tuesday, down from Monday’s close of US$0.7913 or US$1=C$1.2637. The U.S. Dollar Index was up 0.34 of a point at 93.72.
Benchmark crude oil underwent a correction on Tuesday, erasing some of Monday’s gains. Brent crude oil dropped US$0.94 per barrel to US$78.59. West Texas Intermediate (WTI) crude oil retreated US$0.64 to US$74.81/barrel. Western Canadian Select (WCS) crude oil dipped US$0.27 to US$63.29/barrel.
Due to rising U.S. Treasury bond yields and U.S. consumer confidence falling to a seven-month low according to the The Conference Board, the TSX/S&P Composite Index fell 289.28 points to 20,174.14.
Gold lost US$17.07 per ounce to US$1,733.09.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.25
Farmer’s Edge Inc. up $ 0.05 at $ 4.77
Linamar Corp. unchanged at $ 67.32
Maple Leaf Foods unchanged at $ 25.97
Nutrien Ltd. dn $ 0.73 at $ 82.89
Ritchie Bros Auctioneers Inc. dn $ 1.34 at $ 77.18
(All figures are in Canadian dollars.)
