Canadian Financial Close: C$ weakens Monday

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was softer on Monday, as currency traders await the latest interest rate announcement from the United States Federal Reserve on Wednesday.

The Canadian dollar was trading at US$0.7219 or US$1=C$1.3852 late Monday, which compares with Friday’s close of US$0.7231 or US$1=C$1.3830.

General expectations are that the Fed will hold rates steady for the time being, but the accompanying statement will be followed closely for hints at future moves.

Crude oil was weaker, with West Texas crude oil down by 1.67 per cent at US$75.87 per barrel.

The TSX Composite Index lost 35.24 points to close at 22,779.57 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.03

Linamar Corp.——————–dn  $ 0.72    at $ 67.88

Maple Leaf Foods—————–dn  $ 0.27    at $ 24.72

Nutrien Ltd.———————dn  $ 1.08    at $ 69.74

RB Global Inc.——————-up  $ 0.96    at $110.49

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

(All figures are in Canadian dollars.)