By MarketsFarm
WINNIPEG, Sept. 10 (MarketsFarm) – The Canadian dollar was virtually unchanged at market close on Tuesday, as increases in housing starts and the price of Canadian crude held off downward pressure.
The loonie finished the day at US$0.7603 or US$1=C$1.3153, which compares with Monday’s close of US$0.7602 or C$1.3155.
The Canadian Mortgage and Housing Corporation (CMHC) reported housing starts in July were about 226,640, bettering forecasts of 215,000 units.
Benchmark oil prices were mostly lower Tuesday, as Goldman Sachs revised its forecast of oil production from 1.1 million barrels per day to one million, citing a decline in global demand. Also on the firing of United States National Security Advisor John Bolton, an avowed foreign policy hawk, over continuing disagreements with President Donald Trump and other senior administration officials over Middle East policy.
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Brent crude oil slipped 15 cents to close at US$62.45 per barrel. West Texas Intermediate (WTI) crude oil lost 32 cents to close at US$57.53 per barrel. However, Western Canadian Select (WCS) crude oil was up 24 cents at US$45.54 per barrel.
The TSX/S&P Composite Index was up 42.25 points on Tuesday, to close at 16,537.34
Gold fell US$16.10 on Tuesday to close at US$1,495.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.05 at $ 3.65
Linamar Corp. up $ 0.82 at $ 42.24
Maple Leaf Foods dn $ 0.10 at $ 30.37
Nutrien Ltd. up $ 1.54 at $ 68.79
Ritchie Bros Auctioneers Inc. dn $ 0.77 at $ 50.49
Rocky Mountain Dealerships Inc. up $ 0.22 at $ 7.17
(All figures are in Canadian dollars.)
