Canadian Financial Close: Canadian dollar lifts along with markets and oil prices
By MarketsFarm
WINNIPEG, April 1 (MarketsFarm) – The Canadian dollar lifted on Monday, along with markets and oil prices.
The Canadian dollar closed at US$.7498 or US$1=C$1.3337, up from Friday’s close of US$.7483 or US$1=C$1.3363
The S&P/TSX Composite Index gained 125.97 points to close at 16,228.06.
The NASDAQ closed up, gaining 99.59 at 7,828.91 points. Similarly, The Dow Jones gained 329.74 points to close at 26,258.42. The S&P 500 Index lifted by 37.79 to close at 2,867.19 points.
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Stocks strengthened worldwide thanks to strong manufacturing data, which quelled concerns of slowing global growth. Positive trade talks between the United States and China also buoyed markets. On Sunday, China’s State Council announced the country would continue to suspend additional tariffs on U.S. vehicles and auto parts past April 1. This move is considered a goodwill gesture after the U.S. delayed similar tariff hikes on Chinese goods.
“It was the 1-2 punch in terms of positive manufacturing PMI data from China and the U.S., two big economies, and that has emboldened the bulls in the market,” said John Kilduff of Again Capital Management to Reuters.
Oil prices hit 2019 highs on Monday thanks to tight supplies and a positive global economic outlook. West Texas Intermediate crude oil gained US$1.56 to close at US$61.70 per barrel, while Brent crude oil gained US$1.55 to close at US$69.13 per barrel.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients——- up $ 0.03 at $ 17.93
Buhler Industries————–up $ 0.02 at $ 3.63
Linamar Corp ——————up $ 1.82 at $ 48.97
Maple Leaf Foods—————unch at $ 30.91
Nutrien Ltd. ——————up $ 0.61 at $ 71.09
Ritchie Bros Auctioneers Inc.–up $ 0.61 at $ 45.98
Rocky Mountain Dealership Inc.-up $ 0.10 at $ 9.10
(All figures are in Canadian dollars.)
