By MarketsFarm
WINNIPEG, July 9 (MarketsFarm) – The Canadian dollar was weaker at market close on Tuesday.
The dollar finished the day at US$0.7618 or US$1=C$1.3127, which compares with Monday’s close of US$0.7645 or US$1=C$1.3081.
Stephen Poloz, governor of the Bank of Canada, will share his perspective on the current economy on Wednesday. Experts expect his update to indicate that the key interest rate will remain the same. Canada’s economy has been “exiting a sharp slowdown that nearly brought the economy to halt at the start of the year,” according to The Canadian Press.
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“We really do think we’re in a prolonged pause right now as they just wait and see,” said Alicia Macdonald, principal economist for The Conference Board of Canada.
Benchmark oil prices rallied slightly ahead of the weekly United States crude stockpile report, which is released on Wednesday. Brent crude oil was up by 20 cents to close at US$64.31 per barrel. West Texas Intermediate (WTI) crude oil gained 36 cents to close at US$58.02 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.06 at $ 3.85
Linamar Corp. up $ 0.12 at $ 45.17
Maple Leaf Foods dn $ 0.03 at $ 28.98
Nutrien Ltd. dn $ 1.13 at $ 67.53
Ritchie Bros Auctioneers Inc. up $ 0.18 at $ 44.15
Rocky Mountain Dealerships Inc. dn $ 0.01 at $ 7.79
(All figures are in Canadian dollars.)
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