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Canadian Financial Close: Loonie sees small gain

Moderate increase for Western Canadian Select

By MarketsFarm

WINNIPEG, Feb. 23 (MarketsFarm) – The Canadian dollar budged a little higher on Tuesday, as domestic crude oil prices were stronger.

The loonie finished at US$0.7935 or US$1=C$1.2603, compared to Monday’s close of US$0.7928 or US$1=C$1.2613.

Benchmark crude oil prices were mixed on Tuesday, with support coming from delays in getting United States Gulf oil production back to normal, while concerns about COVID-19 weighed on values.

Brent crude oil rose 12 cents at US$65.36 per barrel. West Texas Intermediate (WTI) crude oil lost 15 cents at US$61.55/barrel. Meanwhile, Western Canadian Select (WCS) crude oil gained US$1.14 at US$51.09/barrel.

The TSX Composite Index was down 86.65 points on Tuesday to finish at 18,330.09.

Gold dipped US$3.90 at US$1,804.50 per ounce.

Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.10 at $ 3.10
Linamar Corp. dn $ 0.56 at $ 70.28
Maple Leaf Foods dn $ 0.17 at $ 23.76
Nutrien Ltd. dn $ 0.68 at $ 70.55
Ritchie Bros Auctioneers Inc. up $ 1.71 at $ 66.70
(All figures are in Canadian dollars.)

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