Canadian Financial Close: Weaker crude pulls loonie down
Slipping below 72 U.S. cents
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar finished below 72 United States on Monday, due to sharp declines in crude oil.
The loonie closed at US$0.7197 or US$1=C$1.3895, compared to Friday’s finish of US$0.7209 or US$1=C$1.3872. On the U.S. Dollar Index, the greenback nudged up 0.028 of a point at 104.160.
Benchmark crude oil prices dropped on Monday after Israel indicated it would not target Iranian oil producing facilities.
Brent crude oil fell US$4.08 at US$71.97 per barrel and West Texas Intermediate lost US$3.86 at US$67.92.
The TSX Composite Index gained 101.99 points on Monday to close at 24,565.66.
Gold edged lower 20 cents at US$2,754.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 2.47 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.21 at $ 61.48 Maple Leaf Foods dn $ 0.08 at $ 21.46 Nutrien Ltd. up $ 0.54 at $ 67.14 RB Global Inc. up $ 1.55 at $119.55 (All figures are in Canadian dollars)
