By Commodity News Service Canada
WINNIPEG, Oct. 1 (CNS) – The Canadian dollar surged higher
Monday, after a new North American Free Trade Agreement (NAFTA)
deal was reached.
The Canadian dollar settled Monday at US$0.7811 or
C$1.2803, compared to Friday’s North American close of US$0.7725
or C$1.2945.
A tentative trade deal was reached between Canada and the
United States last night. The new deal, which will include
Mexico, will replace NAFTA. It will be called the United States-
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the three countries.
Oil prices hit their highest levels in four years,
supported by supply concerns before U.S. sanctions against Iran
come into force next month and the new NAFTA deal. Brent crude
futures gained US$2.25 to US$84.98 per barrel, while U.S. crude
futures added US$2.05 to close at US$75.30 per barrel.
Gold prices fell Monday as investors favoured riskier
assets following the new NAFTA deal. Spot gold fell 0.3 per cent
to US$1,187.98 per ounce, while U.S. gold futures for December
delivery fell 0.4 per cent to US$1,191.70 per ounce.
In Toronto, the S&P/TSX Composite closed higher Monday,
rising 31.29 points, or 0.19 per cent, to settle at 16,104.43.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients———up $ 0.09 at $ 17.72
Buhler Industries—————-unchanged at $ 3.60
Linamar Crop.——————–up $ 3.75 at $ 63.26
Maple Leaf Foods—————–dn $ 0.44 at $ 30.62
Nutrien Ltd.———————up $ 0.25 at $ 74.83
Ritchie Bros Auctioneers Inc.—-dn $ 0.28 at $ 46.33
Rocky Mountain Dealerships Inc.–up $ 0.01 at $ 10.26
(All figures are in Canadian dollars.)
