Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 19 (MarketsFarm) – The Canadian dollar was relatively steady on Tuesday, following the global economic forecast from the International Monetary Fund (IMF) in which the outlook for Canada only changed slightly.
The loonie closed at US$0.7921 or US$1=C$1.2624, compared to Monday’s close of US$0.7925 or US$1=C$1.2618.
The IMF cut 0.8 of a point from its latest global forecast, now at 3.6 per cent growth. Canadian economic growth was trimmed 0.2 of a point at 3.9 per cent.
On the United States Dollar Index, the greenback advanced 0.224 of a point at 100.990.
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Benchmark crude oil prices dropped back on Tuesday, due to the IMF report. Brent crude oil retreated US$5.92 at US$107.24 per barrel. West Texas Intermediate (WTI) crude oil contracted US$5.80 at US$102.41 per barrel. Western Canadian Select (WCS) fell US$4.68 at US$90.19 per barrel.
The TSX Composite Index gained 140.41 points on Tuesday to finish at 22,018.82.
Gold plummeted US$35.60 at US$1,950.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.67
Farmers Edge Inc. dn $ 0.02 at $ 3.00
Linamar Corp. up $ 1.18 at $ 51.61
Maple Leaf Foods up $ 0.50 at $ 28.75
Nutrien Ltd. dn $ 1.43 at $143.04
Ritchie Bros Auctioneers Inc. up $ 1.28 at $ 70.55
(All figures are in Canadian dollars.)
