WINNIPEG- The Canadian dollar was weaker at Monday’s close, as soft Chinese economic data and losses in crude oil weighed on the currency.
The Canadian dollar settled at US$0.7747 or US$1=C$1.2908 on Monday, which compares with Friday’s close of US$0.7823 or US$1=C$1.2783.
Signs of slowing activity in China’s economy saw the country’s central bank unexpectedly raise interest rates on Monday, which raised concerns over declining demand for crude oil and other commodities.
Crude oil was sharply lower, with West Texas Intermediate crude oil down by 3.41 per cent at US$88.95 per barrel.
The TSX Composite Index managed to recover from earlier losses to close relatively unchanged at 20,180.60 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.22
Linamar Corp.——————–dn $ 0.09 at $ 64.60
Maple Leaf Foods—————–dn $ 0.05 at $ 23.03
Nutrien Ltd.———————dn $ 2.54 at $115.37
Ritchie Bros Auctioneers Inc.—-up $ 0.64 at $ 91.72
Farmers Edge Inc.—————-dn $ 0.10 at $ 0.98
(All figures are in Canadian dollars.)
