By MarketsFarm
WINNIPEG, Feb. 10 (MarketsFarm) – The Canadian dollar started the week slightly lower, pulled down by flagging crude oil values.
The dollar finished the day at US$0.7508 or US$1=C$1.3319, compared to Friday when it closed at US$0.7516 or US$1=C$1.3305
Financial markets were largely higher ahead of corporate earnings results that will be announced later in the week.
The TSX Composite Index closed higher by 85.08 points at 17,740.57. The S&P 500 gained 24.38 to close at 3,252.09. The Dow Jones gained 174.31 points to finish at 29,276.82. The NASDAQ was down 107.88 to finish at 9,628.39.
Read Also
Canadian Financial Close: C$ firm Friday
Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on…
Benchmark oil prices were weaker on Monday, hitting the lowest levels in over a year. OPEC and its allies had planned an emergency meeting to address reduced demand from China due to the persisting coronavirus. However, a new announcement said the cartel is unlikely to meet in February, which leaves production cuts in question. Brent crude oil was down by US$1.11, closing at US$53.36 per barrel. West Texas Intermediate (WTI) crude oil was 73 cents lower to close at US$49.59 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.23 at $ 2.96
Linamar Corp. dn $ 0.27 at $ 42.60
Maple Leaf Foods up $ 0.17 at $ 26.06
Nutrien Ltd. dn $ 0.37 at $ 57.20
Ritchie Bros Auctioneers Inc. up $ 0.05 at $ 56.80
Rocky Mountain Dealerships Inc. dn $ 0.03 at $ 6.67
(All figures are in Canadian dollars.)
END
