Canadian Financial Close: Loonie steps back
Greenback on the rise
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar gave up nearly a tenth of a cent on Monday, largely due to strength in its Untied States counterpart.
The loonie closed at US$0.7374 or US$1=C$1.3561, compared to Friday’s finish of US$0.7383 or US$1=C$1.3545. On the U.S. Dollar Index, the greenback was up 0.422 of a point at 101.200.
Benchmark crude oil prices were modestly higher on Monday, after incurring heavy losses last week. A storm system approaching the Gulf of Mexico and reassessed global demand spurred oil to reverse course.
Brent crude oil tacked on 68 cents at US$71.74 per barrel and West Texas Intermediate added 94 cents at US$68.61.
The TSX Composite Index advanced 245.72 points on Monday to close at 23,027.15.
Gold rose US$10.70 at US$2,535.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.40 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.34 at $ 60.00 Maple Leaf Foods dn $ 0.47 at $ 21.27 Nutrien Ltd. dn $ 0.33 at $ 62.51 RB Global Inc. up $ 1.14 at $113.22
(All figures are in Canadian dollars)
