By MarketsFarm
WINNIPEG, Oct. 28 (MarketsFarm) – The Canadian dollar was steady on Monday, holding on to gains made last week.
The dollar finished the day at US$0.7659 or US$1=C$1.3056, compared to Friday when it closed at US$0.7655 or US$1=C$1.3064.
The Canadian dollar has maintained strength despite geopolitical concerns injecting some uncertainty into financial markets. United States Speaker of the House Nancy Pelosi announced that the first vote to support the impeachment inquiry of U.S. President Donald Trump will be tomorrow. Across the pond, United Kingdom Prime Minister Boris Johnson is at an impasse in his Brexit negotiations. Although the U.K. was supposed to leave the European Union on Oct. 31, he couldn’t get the votes in Parliament to back the deal, so the EU has again delayed the departure until Jan. 31, 2020.
Read Also
Canadian Financial Close: C$ firm Friday
Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on…
The TSX Composite Index closed lower by 16.96 points at 16,387.53. The S&P 500 gained 16.87 to close at 3,039.42. Similarly, the Dow Jones increased by 132.66 points to finish at 27,090.72. The NASDAQ was up 82.87 to finish at 8,325.99.
Benchmark oil prices were slightly lower following a meeting between Saudi Arabian and U.S. energy secretaries. The two countries discussed working together to ensure the safety of the world’s energy supply. Brent crude oil was down by 41 cents to close at US$61.61 per barrel. West Texas Intermediate (WTI) crude oil was down by 83 cents to close at US$55.83 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.04 at $ 3.60
Linamar Corp. up $ 0.65 at $ 42.91
Maple Leaf Foods up $ 0.02 at $ 29.26
Nutrien Ltd. dn $ 0.67 at $ 64.49
Ritchie Bros Auctioneers Inc. up $ 0.41 at $ 52.39
(All figures are in Canadian dollars.)
END
