Canadian Financial Close: Loonie advances 10th of a cent
Subtle support from crude oil prices
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar inched upward on Monday, aided by small gains in global crude oil prices.
The loonie closed at US$0.7369 or US$1=C$1.3570, compared to Friday’s finish of US$0.7359 or US$1=C$1.3588. On the United States Dollar Index, the greenback tacked on 0.062 of a point at 103.620.
Benchmark crude oil prices bumped up on Monday, due to forthcoming production cuts by OPEC+, but those advances were tempered by the forthcoming interest rate announcement by the U.S. Federal Reserve.
Brent crude oil rose 26 cents at US$76.10 per barrel, and West Texas Intermediate added 18 cents at US$71.41.
The TSX Composite Index dipped 13.18 points on Monday to close at 20,318.36.
Gold lost US$17.40 at US$1,997.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.22 Farmers Edge Inc. dn $0.005 at $ 0.24 Linamar Corp. dn $ 0.20 at $ 57.79 Maple Leaf Foods up $ 0.36 at $ 24.86 Nutrien Ltd. up $ 0.10 at $ 74.06 RB Global Inc. up $ 0.46 at $ 85.78
(All figures are in Canadian dollars)
