Compiled by MarketsFarm
WINNIPEG, Aug. 15 (MarketsFarm) – The Canadian dollar slid further Tuesday, devoid of support from crude oil prices, compounded by increased inflation in the country.
The loonie closed at US$0.7417 or US$1=C$1.3482, compared to Monday’s finish of US$0.7429 or US$1=C$1.3461. On the U.S. Dollar Index, the greenback inched up 0.037 of a point at 103.095.
Benchmark crude oil prices were lower on Tuesday as a report highlighted China’s underperforming economy. However, much larger declines were held off by news of Iran continuing to seize tankers in the Strait of Hormuz.
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Brent crude oil lost US$1.31 at US$84.90 per barrel, while West Texas Intermediate gave up US$1.53 at US$80.98, and Western Canadian Select retreated US$1.74 at US$64.67.
Statistics Canada reported the consumer price index climbed to 3.3 per cent in July, from 2.8 per cent in June as fuel prices were not declining as quick as a year ago.
The TSX Composite Index tumbled 361.49 points on Tuesday to close at 19,929.05.
Gold dropped US$9.90 at US$1,934.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.22 at $ 2.50 Farmers Edge Inc. dn $ 0.015 at $ 0.21 Linamar Corp. dn $ 0.70 at $ 69.59 Maple Leaf Foods dn $ 0.25 at $ 29.69 Nutrien Ltd. dn $ 3.17 at $ 82.78 Ritchie Bros Auctioneers Inc. dn $ 1.62 at $ 76.65
(All figures are in Canadian dollars)
