By MarketsFarm
WINNIPEG, May 9 (MarketsFarm) – The Canadian dollar was weaker on Monday, as sharp declines in crude oil and mounting concerns over the global economic outlook weighed on the energy-linked currency.
The Canadian dollar closed at US$0.7714 or US$1=C$1.2964 on Monday, which compares with Friday’s North American close of US$0.7763 or US$1=C$1.26882.
Crude oil posted large losses to start the week amid concerns that tighter COVID-19 lockdown measures in China would limit demand from the country. West Texas Intermediate crude oil was down by 6.72 per cent, at US$102.39 per barrel.
The TSX Composite Index was weaker, down 633.59 points, or 3.07 per cent, to close at 21,855.70 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.55
Linamar Corp.——————–dn $ 1.18 at $ 48.30
Maple Leaf Foods—————–dn $ 0.16 at $ 27.02
Nutrien Ltd.———————dn $12.83 at $120.85
Ritchie Bros Auctioneers Inc.—-dn $ 1.11 at $ 66.31
Farmers Edge Inc.—————-dn $ 0.08 at $ 2.52
(All figures are in Canadian dollars.)
