WINNIPEG – The Canadian dollar jumped on Tuesday, while crude oil prices were in a downturn.
The loonie closed at US$0.8031 or US$1=C$1.2451, up from Monday’s close of US$0.8006 or US$1=C$1.2490. The United States Dollar Index was up 0.49 of a point at 99.49, its highest point since May 2020.
Crude oil prices dropped on Tuesday as Shanghai’s lockdown due to a COVID-19 outbreak was extended and expanded to include the entire city. Brent crude oil retreated US$2.32 per barrel to US$105.21. West Texas Intermediate (WTI) crude oil decreased US$2.54 to US$100.74/barrel. Western Canadian Select (WCS) fell US$4.09 to US$87.43.
The TSX/S&P Composite Index shed 154.77 points to 21,930.83.
Gold dropped US$10.10 per ounce to US$1,923.90.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.60
Farmer’s Edge Inc. dn $ 0.14 at $ 3.00
Linamar Corp. dn $ 1.34 at $ 52.90
Maple Leaf Foods dn $ 0.23 at $ 30.21
Nutrien Ltd. dn $ 1.92 at $126.41
Ritchie Bros Auctioneers Inc. dn $ 0.26 at $ 74.86
(All figures are in Canadian dollars.)
