WINNIPEG – The Canadian dollar found its way back above the 74 United States cent mark on Tuesday.
The loonie closed at US$0.7417 or US$1=C$1.3483, compared to US$0.7393 or US$1=C$1.3527 on Monday. The Bank of Canada (BoC) is expected to announce on Wednesday it will hold its key interest rate.
The United States Dollar Index declined 0.43 of a point at 102.15.
Crude oil rose due to risk-on sentiment. However, a report from the U.S. Energy Information Administration released on Tuesday said it expects crude oil supply to exceed demand in the next two years. Brent crude oil jumped US$1.39 per barrel to US$85.57. Meanwhile, West Texas Intermediate (WTI) surged US$1.76 at US$81.50/barrel.
The TSX/S&P Composite Index gained 146.03 points to close at 20,421.85.
Gold added US$15.60 at US$2,019.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.20
Farmer’s Edge Inc. dn $ 0.015 at $ 0.20
Linamar Corp. up $ 0.90 at $ 63.01
Maple Leaf Foods up $ 0.79 at $ 27.93
Nutrien Ltd. up $ 2.56 at $ 98.68
Ritchie Bros Auctioneers Inc. up $ 1.55 at $ 78.85
(All figures are in Canadian dollars.)
