Canadian Financial Close: Rising U.S. dollar weakens loonie
Canadian dollar falls below 74 U.S. cents
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar slid below 74 U.S. cents on Monday due to the rising strength in its United States counterpart.
The Canadian dollar closed at US$0.7393 or US$1=C$1.3527, compared to Friday’s finish of US$0.7433 or US$1=C$1.3454. On the U.S. Dollar Index, the greenback climbed 0.559 of a point at 104.340.
Benchmark crude oil prices were modestly higher on Monday, due to Middle East tensions but dashed hopes of an interest rate cut next month by the U.S. Federal Reserve kept a lid on the increases.
Brent crude oil gained 72 cents at US$78.05 per barrel, and West Texas Intermediate added 57 cents at US$72.85.
The TSX Composite Index lost 213.20 points to close Monday at 20,871.89.
Gold dropped US$12.50 at US$2,041.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 2.29 Farmers Edge Inc. up $ 0.005 at $ 0.345 Linamar Corp. dn $ 0.86 at $ 64.19 Maple Leaf Foods up $ 0.02 at $ 26.42 Nutrien Ltd. dn $ 0.77 at $ 67.87 RB Global Inc. up $ 0.40 at $ 86.87
(All figures are in Canadian dollars)
