Canadian Financial Close: Loonie up, gold hits all-time high

Glacier FarmMedia | MarketsFarm – The Canadian dollar attained its highest close in nearly three weeks on Monday.

The loonie ended the day at US$0.6991 or US$1=C$1.4304, compared to US$0.6950 or US$1=C$1.4388 on Friday.

The United States Dollar Index declined 0.33 of a point at 103.39. The U.S. Commerce Department reported February retail sales did not increase as much as anticipated, while those in January received a downward revision. The U.S. Federal Reserve will meet on Tuesday and is expected to keep interest rates unchanged.

Crude oil moved upward on Monday, with optimism for the Chinese economy and recent U.S. attacks on Houthi rebels on Yemen cited as reasons. Brent crude oil increased US$0.45 at US$71.03 per barrel. West Texas Intermediate gained US$0.35 at US$67.53/barrel.

The TSX/S&P Composite Index surged 231.71 points at 24,785.11.

Gold reached an all-time high at US$3,010.20 per ounce, up $9.10 from Friday.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up  $ 0.04     at $  7.30

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 1.02     at $ 53.16

Maple Leaf Foods                 dn  $ 0.12     at $ 24.77

Nutrien Ltd.                     up  $ 1.56     at $ 74.52

RB Global Inc.                   up  $ 2.31     at $139.92

(All figures are in Canadian dollars.)