Canadian Financial Close: Loonie holds firm

By Glen Hallick

Glacier Farm Media MarketsFarm – The Canadian dollar was virtually unchanged on Monday, as small shifts in the United States dollar and crude oil prices countered each other.

The loonie closed at US$0.7265 or US$1=C$1.3764, compared to Friday’s finish of US$0.7264 or US$1=C$1.3766. On the United States Dollar Index, the greenback tacked on 0.153 of a point at 105.985.

Benchmark crude oil prices steady to lower on Monday, despite heightened tensions in the Middle East following Iran’s missile and drone attack on Israel over the weekend.

Brent crude oil dipped 10 cents at US$90.35 per barrel and West Texas Intermediate added one cent at US$85.67.

Statistics Canada reported February manufacturing sales of C$71.6 billion rose 0.7 per cent from January, while the wholesale trade (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) that month were unchanged at C$82.2 billion.

The TSX Composite Index lost 159.79 points on Monday, closing at 21,740.20.

Gold surged upward US$25.70 at US$2,399.80 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries                unchanged      at $  2.29

Farmers Edge Inc.                dn $ 0.005     at $ 0.345

Linamar Corp.                    dn $ 0.46      at $ 66.15

Maple Leaf Foods                 up $ 0.39      at $ 23.08

Nutrien Ltd.                     dn $ 0.73      at $ 72.19

RB Global Inc.                   up $ 0.05      at $100.70

(All figures are in Canadian dollars)