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Canadian Financial Close: Loonie moves up slightly

WINNIPEG – One day after dropping one United States cent, the Canadian dollar had a slight bounce back on Tuesday due to a correction on the markets and promising housing data.

The loonie was at US$0.7855 or US$1=C$1.2730 on Tuesday, up from Monday’s close at US$0.7938 or US$1=C$1.2759. Housing prices in Canada went up 2.7 per cent from May to June and a record-breaking 16 per cent from June 2020 to June 2021, according to the Teranet-National Bank composite price index.

The United States Dollar Index was up 0.07 points at 92.96.

Benchmark crude oil prices continued their volatility on Tuesday. Brent crude oil gained US$1.03 per barrel to US$69.65. West Texas Intermediate (WTI) crude oil increased US$1.00 to US$67.42/barrel. Western Canadian Select (WCS) crude oil jumped US$1.49 to US$53.85/barrel.

The TSX/S&P Composite Index nearly made up yesterday’s losses, surging 216.26 points to 19,942.71.
Gold dropped US$2.11 per ounce to US$1,810.53.

Canada’s agricultural sector fared as follows:

Buhler Industries dn $ 0.02 at $ 3.10
Farmer’s Edge Inc. dn $ 0.30 at $ 10.00
Linamar Corp. up $ 1.68 at $ 72.44
Maple Leaf Foods up $ 0.36 at $ 25.20
Nutrien Ltd. up $ 0.88 at $ 74.24
Ritchie Bros Auctioneers Inc. up $ 1.83 at $ 75.98

(All figures are in Canadian dollars.)

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