Glacier FarmMedia | MarketsFarm – The Canadian dollar sharply rose on Tuesday to its highest close since Jan. 24 after planned tariffs on Canadian goods entering the United States were delayed.
The loonie closed at US$0.6971 or US$1=C$1.4345, higher than US$0.6848 or US$1=C$1.4603 on Monday.
The U.S. Dollar Index lost 1.03 points at 107.96. Meanwhile, U.S. President Donald Trump went ahead with 10 per cent tariffs on Chinese goods on Tuesday, to which China retaliated with their own on U.S. imports. Yesterday, the U.S. put on hold 25 per cent levies on Canadian and Mexican goods entering the U.S.
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Crude oil was steady to lower as 10 per cent tariffs on Canadian energy going into the U.S. were averted for the time being. Brent crude oil was unchanged at US$75.96 per barrel. West Texas Intermediate declined US$0.60 at US$72.56/barrel.
The TSX/S&P Composite Index added 37.59 points at 25,279.35.
Gold advanced $16.30 per ounce at US$2,873.40.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 3.45
Farmer’s Edge Inc. unchanged at $ 0.345
Linamar Corp. up $ 0.01 at $ 53.80
Maple Leaf Foods up $ 0.44 at $ 21.54
Nutrien Ltd. up $ 1.44 at $ 75.69
RB Global Inc. dn $ 2.08 at $126.77
(All figures are in Canadian dollars.)
