By MarketsFarm
WINNIPEG, Aug. 8 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, pressured by the country’s widening trade deficit.
The Canadian dollar settled at US$0.7432 or US$1=C$1.3456 on Tuesday, which compares with Friday’s close of US$0.7488 or US$1=C$1.3355. Canadian markets were closed Monday for civic holidays.
Canada’s international trade deficit widened to its highest level in nearly three years, hitting C$3.7 billion in June, according to a report from Statistics Canada. Meanwhile, Chinese customs data showed that both exports and imports for the country were down by more than expected in July, which raised concerns over China’s economic recovery.
West Texas Intermediate was up by 1.04 per cent at US$82.81 per barrel.
The TSX Composite Index was weaker, losing 30.06 points or 0.15 per cent to close at 20,205.98 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.21
Linamar Corp.——————–dn $ 0.50 at $ 77.36
Maple Leaf Foods—————–dn $ 1.12 at $ 30.08
Nutrien Ltd.———————up $ 1.30 at $ 88.93
Ritchie Bros Auctioneers Inc.—-dn $ 0.37 at $ 77.97
Farmers Edge Inc.—————-dn $ 0.005 at $ 0.21
(All figures are in Canadian dollars.)
