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Canadian Financial Close: Loonie regains some ground

Greenback pulls back

By MarketsFarm

WINNIPEG, Jan. 19 (MarketsFarm) – The Canadian dollar was higher on Tuesday, as the United States dollar eased back and despite a sharp loss in domestic crude oil prices.

The dollar finished at US$0.7852 or US$1.2735, compared to Monday’s close of US$0.7836 or US$1=C$1.2762.

On the U.S. Dollar Index the greenback slipped 0.279 at 90.475 points.

Benchmark crude oil prices were higher Tuesday on hopes of additional economic stimulus in the U.S. as well as good demand for oil from China.

Brent crude oil leapt US$1.11 at US$55.86 per barrel. West Texas Intermediate (WTI) crude oil gained 64 cents at US$53.00/barrel. Meanwhile, Western Canadian Select (WCS) crude oil dropped US$2.41 at US$39.25/barrel.

The TSX Composite Index was up slightly by 12.49 points on Tuesday to finish at 17,957.37.

Gold was up US$9.00 at US$1,838.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.05 at $ 2.68
Linamar Corp. up $ 0.09 at $ 72.74
Maple Leaf Foods dn $ 0.32 at $ 25.83
Nutrien Ltd. up $ 0.08 at $ 68.04
Ritchie Bros Auctioneers Inc. up $ 1.43 at $ 79.18
(All figures are in Canadian dollars.)

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