Compiled by MarketsFarm
WINNIPEG, March 14 (MarketsFarm) – The Canadian dollar closed stronger on Tuesday, despite a slight uptick in the United States dollar and sharp losses in crude oil prices.
The loonie closed at US$0.7312 or US$1=C$1.3677, compared to Monday’s close of US$0.7283 or US$1=C$1.3730. On the U.S. Dollar Index, the greenback nudged up 0.052 of a point at 103.235.
Benchmark crude oil prices retreated on Tuesday, in the wake of two U.S. bank failures.
Brent crude oil fell US$3.22 at US$77.55 per barrel and West Texas Intermediate (WTI) dropped US$3.33 at US$71.47. Western Canadian Select (WCS) lost US$2.96 at US$54.42.
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Statistics Canada reported that January manufacturing sales were C$73.9 billion, up 4.1 per cent from December following increases in 16 of the 21 industries tracked.
The TSX Composite Index closed with a gain of 105.26 points, or 0.54 per cent on Tuesday, at 19,694.16.
Gold was down US$8.60 at US$1,907.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.12 at $ 2.40 Farmers Edge Inc. dn $ 0.01 at $ 0.25 Linamar Corp. dn $ 0.23 at $ 62.57 Maple Leaf Foods up $ 0.37 at $ 23.57 Nutrien Ltd. up $ 2.36 at $104.04 Ritchie Bros Auctioneers Inc. dn $ 2.64 at $ 73.14
(All figures are in Canadian dollars.)
