WINNIPEG – The Canadian dollar closed at its lowest level since March 9 on Tuesday.
The loonie closed at US$0.7814 or US$1=C$1.2797, down from Monday’s close of US$0.7838 or US$1=C$1.2758.
The United States Dollar Index reached its highest level since March 15, 2020 when it gained 0.60 of a point at 102.35, marking six straight days the index was above 100 points.
Crude oil prices reversed course from recent losses on Tuesday after China’s central bank assured that businesses would be supported during COVID-19 lockdowns. Brent crude oil gained US$3.37 per barrel at US$105.69. West Texas Intermediate (WTI) crude oil rose US$3.55 at US$102.09/barrel. Western Canadian Select (WCS) added US$3.09 to US$89.71.
Inflation fears have caused the TSX/S&P Composite Index to plunge 321.08 points at 20,690.81.
Gold increased US$9.40 per ounce to US$1,905.40.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.55
Farmer’s Edge Inc. dn $ 0.03 at $ 2.74
Linamar Corp. dn $ 1.40 at $ 48.03
Maple Leaf Foods dn $ 0.77 at $ 27.43
Nutrien Ltd. up $ 0.10 at $126.81
Ritchie Bros Auctioneers Inc. dn $ 1.74 at $ 70.10
(All figures are in Canadian dollars.)
