Canadian Financial Close: Loonie rises with markets

Glacier FarmMedia | MarketsFarm – The Canadian dollar ended the day higher on Monday after a week-and-a-half of declines.

The loonie closed at US$0.7121 or US$1=C$1.4042, compared to US$0.7103 or US$1=C$1.4079 on Friday. The United States Dollar Index was down 0.43 of a point at 106.26.

Crude oil jumped on Monday after U.S. President Joe Biden authorized Ukraine to use U.S.-made weapons in Russian territory. Brent crude oil rose US$2.37 at US$73.41 per barrel. West Texas Intermediate surged US$2.20 at US$69.22/barrel.

The TSX/S&P Composite Index neared an all-time high on Monday before settling for a gain of 86.26 points at 24,976.94.

Weakness in the U.S. dollar caused gold to gain $45.00 per ounce at US$2,615.10.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up  $ 0.07     at $  2.95

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.62     at $ 60.61

Maple Leaf Foods                 dn  $ 0.02     at $ 22.54

Nutrien Ltd.                     dn  $ 1.19     at $ 63.91

RB Global Inc.                   up  $ 1.16     at $131.88

(All figures are in Canadian dollars.)