By MarketsFarm
WINNIPEG, Jan. 7 (MarketsFarm) – The Canadian dollar was lower at market close on Tuesday, as the United States dollar began to regain its strength after giving way at the end of 2019.
The loonie finished the day at US$0.7687 or US$1=C$1.3009, which compares with Monday’s close of US$0.7710 or C$1.2970.
Although the Statistics Canada report on the country’s trade deficit improved from a revised October figure of C$1.6 billion to C$1.1 billion in November, it also put pressure on the loonie.
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Benchmark crude oil prices lower on Tuesday, as concerns regarding the tense situation between the U.S. and Iran were reasserted.
Brent crude oil was down 74 cents per barrel closing at US$68.17 per barrel. West Texas Intermediate (WTI) declined 66 cents at US$62.61 per barrel. Western Canadian Select (WCS) lost 61 cents at US$40.14 per barrel.
The TSX/S&P Composite Index was up 62.59 on Tuesday to close at 17,168.06 points. Unlike oil, the high Middle East tensions did not weigh on values as much.
Gold increased US$5.82 on Tuesday to close at US$1,571.56 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.79
Linamar Corp. up $ 0.14 at $ 48.74
Maple Leaf Foods dn $ 0.16 at $ 25.12
Nutrien Ltd. up $ 0.82 at $ 62.12
Ritchie Bros Auctioneers Inc. up $ 0.12 at $ 56.26
(All figures are in Canadian dollars.)
