By MarketsFarm
WINNIPEG, Jan. 31 (MarketsFarm) – The Canadian dollar was slightly firmer on Tuesday, as the country’s latest gross domestic product data met expectations.
The Canadian dollar settled at US$0.7491 or US$1=C$1.3350 on Tuesday, which compares with Monday’s close of US$0.7487 or US$1=C$1.3356.
Canada’s economy grew by 0.1 per cent in November compared to the previous month, according to a report from Statistics Canada. Preliminary estimates for December showed a steady monthly reading for the gross domestic product, with annual growth of 3.8 per cent.
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The United States Federal Reserve is set to make its latest interest rate announcement on Wednesday, with general expectations calling for another 25-point hike.
West Texas Intermediate crude oil was up by 1.5 per cent at US$79.09 per barrel.
The TSX Composite Index was stronger, up 195.27 points or 0.95 per cent at the close at 20,767.38 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-dn $ 0.08 at $ 2.02
Linamar Corp.——————–up $ 1.67 at $ 67.95
Maple Leaf Foods—————–up $ 0.04 at $ 25.29
Nutrien Ltd.———————up $ 3.48 at $110.14
Ritchie Bros Auctioneers Inc.—-up $ 1.01 at $ 80.46
Farmers Edge Inc.—————-dn $ 0.03 at $ 0.23
(All figures are in Canadian dollars.)
