By MarketsFarm
WINNIPEG, July 2 (MarketsFarm) – The Canadian dollar was slightly weaker at market close on Tuesday, despite flagging crude oil futures.
The dollar finished the day at US$0.7625 or US$1=C$1.3114, which compares with Friday’s close of US$0.7641 or US$1=C$1.3087.
The TSX/S&P Composite Index was up 89.09 points on Tuesday to finish at 16,471.29, despite recent data that showed Canada’s manufacturing sector contracted in June.
The S&P 500 hit a new closing high on Tuesday, as investors responded to the positive tone on trade talks between the United States and China.
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The NASDAQ was up 12.04 at 8,109.09 points. Similarly, the Dow Jones was up 69.25 points to close at 26,786.68.
Benchmark oil prices took a dive following global demand concerns. OPEC and its allies have extended production cuts into 2020. Brent crude oil was down by US$2.53 cents to close at US$62.53 per barrel. West Texas Intermediate (WTI) crude oil lost US$2.81 to close at US$56.28 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.91
Linamar Corp. dn $ 0.17 at $ 48.88
Maple Leaf Foods up $ 0.13 at $ 28.68
Nutrien Ltd. up $ 0.39 at $ 70.05
Ritchie Bros Auctioneers Inc. up $ 0.43 at $ 43.55
Rocky Mountain Dealerships Inc. unch at $ 7.81
(All figures are in Canadian dollars.)
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