Canadian Financial Close: C$ slightly weaker

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly weaker on Monday, as investors await direction from the United States Federal Reserve later in the week.

The Canadian dollar settled at US$0.7265 or US$1=C$1.3765 on Monday, which compares with Friday’s close of US$0.7278 or US$1=C$1.3740.

Economists generally expect the Fed will leave rates unchanged this month, diverging from the Bank of Canada and the European Central Bank that both lowered rates last week. However, the U.S. is still expected to cut rates later in the year, and the accompanying statement will be followed closely.

U.S. inflation data will also be released Wednesday.

West Texas Intermediate crude oil was up by 3.12 per cent at US$77.89 per barrel.

The TSX Composite Index gained 62.76 points to close at 22,069.76 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.09

Linamar Corp.——————–up  $ 0.54    at $ 69.70

Maple Leaf Foods—————–up  $ 0.08    at $ 22.85

Nutrien Ltd.———————dn  $ 0.39    at $ 75.85

RB Global Inc.——————-up  $ 8.90    at $108.90

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

(All figures are in Canadian dollars.)