By MarketsFarm
WINNIPEG, Sept. 24 (MarketsFarm) – The Canadian dollar was higher at market close on Tuesday, despite declines in crude oil prices and the stock markets.
The loonie finished the day at US$0.7548 or US$1=C$1.3249, which compares with Monday’s close of US$0.7536 or C$1.3270.
Benchmark oil prices dropped on Tuesday following remarks from United States President Donald Trump who accused China of unfair trade practices and stated he would not accept a bad deal from upcoming trade talks. Top-level U.S. and Chinese negotiators are scheduled to meet in two weeks.
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Brent crude oil dropped US$2.25 to close at US$62.52 per barrel. West Texas Intermediate (WTI) crude oil slid US$1.85 cents to close at US$56.80 per barrel. Western Canadian Select crude was down 99 cents at US$44.29 per barrel.
The TSX/S&P Composite Index was slipped 68.87 on Tuesday at 16,867.20 points.
The U.S. markets took a hit today as Trump’s comments about China plus a growing scandal over the president’s alleged attempt to pressure Ukraine created uncertainty.
The Dow Jones fell 142.22 to close at 26,807.77 points. The NASDAQ lost 118.83 to finish at 7,993.63 points. The S&P 500 was down 25.18 to end at 2,966.60 points.
Gold was up US$7.20 on Tuesday to close at US$1,538.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.02 at $ 3.75
Maple Leaf Foods up $ 0.50 at $ 30.65
Nutrien Ltd. dn $ 1.09 at $ 65.81
Ritchie Bros Auctioneers Inc. up $ 0.65 at $ 51.83
Rocky Mountain Dealerships Inc. dn $ 0.05 at $ 7.02
(All figures are in Canadian dollars.)
