Canadian Financial Close: Loonie holds firm
Attach at Russian oil facility sparks price increase
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was relatively steady on Monday, following a virtual balancing between small upticks in the United States dollar and gains in crude oil prices.
The Canadian dollar closed at US$0.7433 or US$1=C$1.3353, compared to Friday’s finish of US$0.7428 or US$1=C$1.3462. On the U.S. Dollar Index, the greenback nudged up 0.066 of a point at 103.135.
Benchmark crude oil prices were higher on Monday, after Ukraine launched a drone attack on an oil facility near St. Petersburg, Russia.
Brent crude oil rose US$1.23 at US$79.79 per barrel, and West Texas Intermediate added US$1.78 at US$75.19.
Statistics Canada reported on Monday that high interest rates widened the disposable income gap between the top and bottom 40 earners by 0.5 per cent during the third quarter of 2023.
The TSX Composite Index bumped up 17.78 points to close Monday at 20,924.30.
Gold lost US$7.20 at US$2,022.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.31 Farmers Edge Inc. up $ 0.01 at $ 0.35 Linamar Corp. up $ 0.81 at $ 65.00 Maple Leaf Foods dn $ 0.46 at $ 26.85 Nutrien Ltd. dn $ 0.28 at $ 68.83 RB Global Inc. up $ 0.26 at $ 86.17
(All figures are in Canadian dollars)
