WINNIPEG, April 7 (MarketsFarm) – The Canadian dollar was stronger on Tuesday, despite a dip in oil prices.
The dollar finished the day at US$0.7150 or US$1=C$1.3986, compared to Monday when it closed at US$0.7079 or US$1=C$1.4127.
United States stock indexes were lower on the day, but Canadian financial markets were able to maintain gains incurred yesterday. The TSX Composite Index was up by 21.44 points to close at 13,614.14.
Oil prices were lower ahead of a meeting between the Organization of Petroleum Exporting Countries (OPEC) to discuss coordinated production cuts, which is scheduled for Thursday. Brent crude oil lost US$1.05 to close at US$32.00 per barrel. West Texas Intermediate (WTI) crude oil fell by US$1.94 to close at US$24.14 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.95
Linamar Corp. up $ 0.75 at $ 31.56
Maple Leaf Foods dn $ 0.62 at $ 25.28
Nutrien Ltd. up $ 0.30 at $ 48.88
Ritchie Bros Auctioneers Inc. dn $ 0.25 at $ 50.99
Rocky Mountain Dealerships Inc. up $ 0.20 at $ 4.20
(All figures are in Canadian dollars.)