Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 22 (MarketsFarm) – The Canadian dollar pushed higher on Tuesday aided by a weaker United States dollar and rising crude oil prices.
The loonie closed at US$0.7465 or US$1=C$1.3396, compared to Monday’s close of US$0.7434 or US$1=C$1.3413. On the U.S. Dollar Index, the greenback lost 0.672 of a point at 107.060.
Benchmark crude oil prices were higher on Tuesday after Saudi Arabian officials stated OPEC+ was not planning to increase production.
Brent crude oil added US$1.04 at US$88.49 per barrel. West Texas Intermediate (WTI) crude oil rose US$1.09 at US$81.13/barrel. Western Canadian Select (WCS) advanced US$1.28 at US$54.02/barrel.
The TSX Composite Index gained 242.88 points to finish Tuesday at 20,220.01.
Gold was up US$1.30 at US$1,740.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 1.85
Farmers Edge Inc. dn $ 0.02 at $ 0.30
Linamar Corp. up $ 0.33 at $ 65.24
Maple Leaf Foods up $ 0.21 at $ 24.38
Nutrien Ltd. up $ 5.02 at $108.25
Ritchie Bros Auctioneers Inc. dn $ 2.59 at $ 72.84
(All figures are in Canadian dollars.)