Canadian Financial Close: C$ hold firm Monday

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar held firm on Monday, lacking any clear direction as investors await the latest interest rate announcement from the United States Federal Reserve.

The Canadian dollar settled at US$0.7439 or US$1=C$1.3442 on Monday, which compares with Friday’s close of US$0.7435 or US$1=C$1.3478.

The U.S. Fed will release its policy rate decision on Wednesday, with Canadian inflation data also out that day.

Crude oil was pressured lower by concerns over the Chinese economy on Monday, although the ongoing geopolitical tensions in the Middle East provided some support. West Texas Intermediate crude oil was down by 1.33 per cent at US$76.97 per barrel.

The TSX Composite Index was up by 74.78 points to close at 21,200.06 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.39

Linamar Corp.——————–up  $ 0.01    at $ 65.09

Maple Leaf Foods—————–dn  $ 0.18    at $ 25.90

Nutrien Ltd.———————up  $ 0.27    at $ 68.64

RB Global Inc.——————-up  $ 0.39    at $ 84.10

Farmers Edge Inc.—————-up  $ 0.01    at $  0.35

(All figures are in Canadian dollars.)