Canadian Financial Close: Modest increase for loonie
Support from upticks in crude oil
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar climbed higher on Monday as gains in crude oil provided support, a slightly stronger United States dollar limited the increases.
The loonie closed Monday at US$0.6955 or US$1=1.4379, compared to Friday’s finish of US$0.6937 or US$1=1.4416. On the U.S. Dollar Index, the greenback nudged up 0.088 of a point at 107.880.
Benchmark crude oil prices bumped up on Monday as the market expects a turn of cold weather for the U.S. and Europe will boost demand.
Brent crude oil tacked on 22 cents at US$74.39 per barrel and West Texas Intermediate added 55 cents at US$71.15.
The TSX Composite Index lost 175.81 points to close Monday at 24,620.59.
Gold was down US$10.80 at US$2,621.10 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.88 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.47 at $ 56.64 Maple Leaf Foods dn $ 0.44 at $ 19.68 Nutrien Ltd. dn $ 0.48 at $ 63.45 RB Global Inc. dn $ 1.14 at $129.80
(All figures are in Canadian dollars)
