Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 21 (MarketsFarm) – The Canadian dollar was slightly higher on Tuesday following the federal election while the United States dollar inched back and crude oil made small gains.
The loonie closed at US$0.7812 or US$1=C$1.2801, compared to Monday’s close of US$0.7795 or US$1=C$1.2828.
The federal Liberals led by Prime Minister Justin Trudeau came just short of a majority government for the second time in two years, as the results strongly reflected those from the 2019 election.
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On the U.S. Dollar Index, the greenback was down 0.046 at 93.210 points.
Benchmark crude oil prices were slightly higher on Tuesday, as concerns over tightening supplies edged out pressure from China’s economy being hurt by the Evergrande debacle.
Brent crude oil climbed 60 cents at US$74.52 per barrel. West Texas Intermediate (WTI) crude oil gained 27 cents at US$70.56 per barrel. Western Canadian Select (WCS) rose 35 cents at US$59.36 per barrel.
The TSX Composite Index took back some of Monday’s losses on Tuesday, rising 89.75 points to close at 20,244.29.
Gold bounced US$11.30 at US$1,775.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.01 at $ 3.21
Farmers Edge Inc. dn $ 0.21 at $ 4.88
Linamar Corp. dn $ 1.81 at $ 65.57
Maple Leaf Foods dn $ 0.55 at $ 27.02
Nutrien Ltd. dn $ 1.41 at $ 79.04
(All figures are in Canadian dollars.)
