By MarketsFarm
WINNIPEG, Aug. 19 (MarketsFarm) – The Canadian dollar was slightly lower on Monday, despite supportive crude oil values.
The dollar finished the day at US$0.7520 or US$1=C$1.3298, which compares with Friday’s close of US$0.7527 or US$1=C$1.3286.
Global equities finished higher today despite lingering recession concerns. United States President Donald Trump has indicated that progress has been made regarding trade negotiations between the U.S. and China. President Trump has also called for the country’s central bank to cut interest rates by “at least 100 basis points.”
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The TSX Composite Index closed higher by 154.26 points at 16,304.05. The S&P 500 gained 34.97 to close at 2,923.65. Similarly, the Dow Jones jumped 249.78 points to finish at 26,135.79. The NASDAQ was up 106.82 to finish at 8,002.81.
Benchmark oil prices were higher, gaining about two per cent following an attack on a Saudi oil facility over the weekend. Brent crude oil was up by US$1.12 to close at US$59.76 per barrel. West Texas Intermediate (WTI) crude oil gained US$1.34 to close at US$56.21 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.10 at $ 2.67
Linamar Corp. up $ 0.99 at $ 40.41
Maple Leaf Foods up $ 0.03 at $ 33.04
Nutrien Ltd. up $ 0.80 at $ 66.91
Ritchie Bros Auctioneers Inc. up $ 0.78 at $ 52.37
Rocky Mountain Dealerships Inc. dn $ 0.08 at $ 6.55
(All figures are in Canadian dollars.)
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