By MarketsFarm
WINNIPEG, Aug. 6 (MarketsFarm) – The Canadian dollar remained around 75 U.S. cents, as world economic superpowers remain mired in a trade war.
The dollar finished the day at US$0.7561 or US$1=C$1.3225, which compares with Friday’s close of US$0.7566 or US$1=C$1.3217.
Stock performances bounced back slightly after Monday’s losses after China was accused of devaluing the yuan in order to undermine the United States dollar. This move followed U.S. President Donald Trump’s threat to enact a 10 per cent tariff on more Chinese goods as of September 1.
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The TSX Composite Index closed lower by 122.17 points at 16,149.49. The S&P 500 gained 37.80 to close at 2,882.35. Similarly, the Dow Jones gained 306.61 to finish at 26,017.00. The NASDAQ gained 110.74 to finish at 7,826.86.
Benchmark oil prices were down on Tuesday, as trade tensions stoked concerns of future global demand. Brent crude oil fell by more than one per cent, down by 71 cents to close at US$59.10 per barrel. West Texas Intermediate (WTI) crude oil lost 91 cents to close at US$53.78 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 2.80
Linamar Corp. dn $ 1.36 at $ 41.25
Maple Leaf Foods dn $ 1.03 at $ 33.37
Nutrien Ltd. dn $ 2.28 at $ 68.46
Ritchie Bros Auctioneers Inc. up $ 0.06 at $ 47.00
Rocky Mountain Dealerships Inc. up $ 0.02 at $ 7.23
(All figures are in Canadian dollars.)
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