Canadian Financial Close: Negative day for loonie, markets

After a brief sojourn above the 74 United States cent mark, the Canadian dollar lost some ground.

The loonie closed on Monday at US$0.7385 or US$1=C$1.3541, compared to US$0.7404 or US$1=C$1.3507 on Friday. The Bank of Canada (BoC) will announce its key interest rate decision on Wednesday with many observers predicting it will remain unchanged.

The U.S. Dollar Index was up 0.37 of a point at 103.64.

Crude oil was down on Monday due to uncertainty about supply in the market. Brent crude oil dropped US$0.64 at US$78.24 per barrel. West Texas Intermediate (WTI) was lower by US$0.77 to US$73.30/barrel.

The TSX/S&P Composite Index shed 42.66 points to end the day at 20,410.21.

After hitting a record-high spot price in the morning, gold fell US$42.20 at US$2,047.50 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up  $ 0.10     at $  2.40

Farmer’s Edge Inc.               unchanged      at $  0.24

Linamar Corp.                    up  $ 0.10     at $ 59.12

Maple Leaf Foods                 up  $ 0.09     at $ 24.66

Nutrien Ltd.                     dn  $ 1.61     at $ 73.49

RB Global Inc.                   dn  $ 2.10     at $ 87.61