Canadian Financial Close: C$ shows continued recovery

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger for the fourth-straight session on Monday, continuing to correct after hitting its weakest level in five-months relative to its United States counterpart last week.

The Canadian dollar settled at US$0.7291 or US$1=C$1.3715 on Monday, which compares with Friday’s close of US$0.7274 or US$1=C$1.3748.

Canada’s Industrial Product Price Index was up by 0.8 per cent in March compared to the previous month, but still down by 0.5 per cent on an annual basis, according to updated data from Statistics Canada. The country’s Raw Materials Price Index was up by 4.7 per cent monthly and 0.8 per cent annually.

New home prices in Canada held steady in March compared to the previous month, with the New Housing Price Index down by 0.4 per cent year-over-year, according to StatCan.

Crude oil held near unchanged, with West Texas Intermediate down by 0.14 per cent at US$83.02 per barrel.

The TSX Composite Index was up by 64.59 points to close at 21,871.96 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.24

Linamar Corp.——————–up  $ 1.33    at $ 65.96

Maple Leaf Foods—————–up  $ 0.11    at $ 23.73

Nutrien Ltd.———————dn  $ 0.87    at $ 71.69

RB Global Inc.——————-up  $ 0.03    at $ 99.90

Farmers Edge Inc.—————-    $ 0.00    at $  0.345

(All figures are in Canadian dollars.)