WINNIPEG – The Canadian dollar stayed relatively steady on Tuesday after making a big jump on Monday.
The loonie was at US$0.8063 or US$1=C$1.2403 on Tuesday, up from Monday’s close at US$0.8057 or US$1=C$1.2412, while oil prices rallied. Meanwhile, the United States Dollar Index increased by 0.09 points to 90.90.
Benchmark crude oil prices soared on Tuesday despite OPEC+ deciding to slightly increase output starting May 1. Brent crude oil jumped by US$1.06 per barrel to US$66.71. West Texas Intermediate (WTI) crude oil climbed by US$1.29 to US$63.20/barrel. Western Canadian Select (WCS) crude oil gained US$1.42 to US$51.13/barrel.
The TSX Composite Index was largely unchanged, rising by 4.53 points to 19,175.09.
Gold fell by US$5.55 per ounce to US$1,775.83.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.49
Farmer’s Edge Inc. up $ 0.55 at $ 17.51
Linamar Corp. dn $ 0.01 at $ 75.44
Maple Leaf Foods dn $ 0.10 at $ 28.18
Nutrien Ltd. up $ 0.71 at $ 68.87
Ritchie Bros Auctioneers Inc. up $ 0.37 at $ 78.76
(All figures are in Canadian dollars.)
