Canadian Financial Close: C$ eases off nearby highs

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly softer relative to its United States counterpart on Monday, taking a step back from its recently hit four-week highs as investors squared positions ahead of Tuesday’s inflation data.

The Canadian dollar settled at US$0.7470 or US$1=C$1.3387 on Monday, which compares with Friday’s close of US$0.7475 or US$1=C$1.3378.

The Bank of Canada will release its monthly Consumer Price Index (CPI) report on inflation on Tuesday, with Gross Domestic Product data out on Friday.

Crude oil strengthened on Monday as attacks on vessels moving through the Black Sea raised concerns over movement in the oil-rich region. West Texas Intermediate crude oil was up by 1.72 per cent at US$72.66 per barrel.

The TSX Composite Index was stronger, gaining 93.56 points to close at 20,622.71 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.08    at $  2.28

Linamar Corp.——————–up  $ 1.02    at $ 62.72

Maple Leaf Foods—————–up  $ 0.46    at $ 24.96

Nutrien Ltd.———————up  $ 0.08    at $ 73.61

RB Global Inc.——————-up  $ 0.18    at $ 85.47

Farmers Edge Inc.—————-dn  $ 0.005   at $  0.24

(All figures are in Canadian dollars.)