WINNIPEG – The Canadian dollar dropped on Tuesday following a collapse in crude oil prices.
The loonie closed at US$0.7343 or US$1=C$1.3618 on Tuesday, compared to US$0.7382 or US$1=C$1.3546 on Monday.
The United States Dollar Index declined 0.23 of a point at 101.92.
Crude oil had its largest one-day drop since Jan. 4 after the release of underwhelming U.S. jobs and Chinese manufacturing reports. Brent crude oil fell US$4.09 per barrel to US$75.22. Meanwhile, West Texas Intermediate (WTI) tumbled US$4.12 at US$71.54/barrel.
The TSX/S&P Composite Index lost 207.54 points to close at 20,407.56.
Gold gained US$34.00 at US$2,026.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.20
Farmer’s Edge Inc. dn $ 0.01 at $ 0.175
Linamar Corp. dn $ 0.02 at $ 65.08
Maple Leaf Foods dn $ 0.18 at $ 27.55
Nutrien Ltd. dn $ 0.97 at $ 93.66
Ritchie Bros Auctioneers Inc. dn $ 1.20 at $ 76.35
(All figures are in Canadian dollars.)
