WINNIPEG – The Canadian dollar slightly weakened on Monday despite a marked drop in oil prices.
The loonie was at US$0.7959 or US$1=C$1.2565 on Monday, down from Friday’s close at US$0.7968 or US$1=C$1.2550. The United States Dollar Index was up 0.18 points at 92.98.
Benchmark crude oil prices fell on Monday due to new COVID-19 restrictions in Asia. Brent crude oil dropped US$1.42 per barrel to US$69.28. West Texas Intermediate (WTI) crude oil was down US$1.43 to US$66.85/barrel. Western Canadian Select (WCS) crude oil lost US$1.29 to US$53.20/barrel.
The TSX/S&P Composite Index declined 38.00 points to 20.437.42.
Gold tumbled US$33.54 per ounce to US$1,729.48 after two U.S. Federal Reserve officials indicated that a tapering of bond-buying was near.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.00
Farmer’s Edge Inc. up $ 0.04 at $ 9.04
Linamar Corp. dn $ 0.02 at $ 72.33
Maple Leaf Foods dn $ 0.28 at $ 25.63
Nutrien Ltd. up $ 1.25 at $ 75.99
Ritchie Bros Auctioneers Inc. up $ 1.40 at $ 74.55
(All figures are in Canadian dollars.)
