Canadian Financial Close: Loonie drops as holidays approach

The Canadian dollar fell to another multi-year low on Monday.

The loonie closed at US$0.6947 or US$1=C$1.4395, compared to US$0.6961 or US$1=C$1.4365 on Friday.

The United States Dollar Index gained 0.46 of a point at 108.08, approaching the high mark for 2024.

Crude oil was steady to lower on Monday despite a stronger U.S. dollar. Brent crude oil was down US$0.08 at US$72.06 per barrel. West Texas Intermediate was unchanged at US$69.46/barrel.

The TSX/S&P Composite Index jumped 149.50 points at 24,748.98.

Gold added $9.10 per ounce at US$2,673.90.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.88

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.61     at $ 56.72

Maple Leaf Foods                 dn  $ 0.02     at $ 20.32

Nutrien Ltd.                     dn  $ 0.19     at $ 63.92

RB Global Inc.                   dn  $ 0.23     at $129.83

(All figures are in Canadian dollars.)