By MarketsFarm
WINNIPEG, Nov. 17 (MarketsFarm) – The Canadian dollar remained steady on Tuesday, despite investor sentiment in the United States declining in the face of rising cases of COVID-19.
The dollar finished at US$0.7637 or US$=C$1.3094 compared to Monday’s close of US$0.7642 or US$1=C$1.3085.
Benchmark crude oil prices were slightly higher on Tuesday as support came from the Energy Information Administration, which reported United States crude oil production is likely to remain around 11 million barrels per day in 2021. Also of note, two days of meetings among the OPEC+ members that failed to reach an agreement on extending production cutbacks after January.
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Brent crude oil was up four cents at US$43.86 per barrel. West Texas Intermediate (WTI) crude oil gained 12 cents at US$41.46 per barrel. Western Canadian Select (WCS) crude rose 30 cents at US$32.15 per barrel.
The TSX Composite Index was up 58.25 points on Tuesday to finish at 16,948.06.
However, the U.S. markets pulled back with the Dow Jones losing 167.09 points to close at 29,783.35. The NASDSAQ lost 24.79 points to finish at 11,899.34 and the S&P 500 slipped 17.31 points to end the day at 3,609.60.
Gold dropped US$7.32 at US$1,881.63 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.06 at $ 2.31
Linamar Corp. dn $ 0.15 at $ 60.06
Maple Leaf Foods dn $ 0.03 at $ 25.71
Nutrien Ltd. up $ 0.73 at $ 57.51
Ritchie Bros Auctioneers Inc. dn $ 0.39 at $ 82.40
Rocky Mountain Dealerships Inc. unchanged at $ 7.00
(All figures are in Canadian dollars.)
