Canadian Financial Close: Canadian dollar rebounded after Friday lows

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Published: June 3, 2019

By MarketsFarm

WINNIPEG, June 3 (MarketsFarm) – The Canadian dollar was up at Monday’s close, rebounding from hitting nearly five-month lows on Friday.

The Canadian dollar closed at US$.7424 or US$1=C$1.3470, up from Friday’s close of US$.74393 or US$1=C$1.3527.

The Dow Jones Industrial gained 4.74 points to close at 24,819.78.

Global stock indexes were crippled by the increasingly hostile trade war between the U.S. and China. The Chinese government has signalled it might blacklist foreign companies from its huge market, according to CNN Business. On Sunday, China released a document that unilaterally blamed the United States for the breakdown in trade talks.

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The TSX lost 21.60 points to close at 16,015.89. Similarly, the NASDAQ lost 120.13 points to close at 7,333.02. The S&P 500 Index was down 7.61 points, closing at 2,744.45 points.

Oil futures have dropped nearly 20 per cent since late April due to concerns of a global recession and slowed consumption. West Texas Intermediate lost 65 cents to end the day at US$52.85 per barrel, and Brent Crude oil lost $1.21 to hit US$60.78 per barrel.

Canada’s agricultural sector fared as follows:

AGT Food and Ingredients unchanged at $ 17.99
Buhler Industries unchanged at $ 3.62
Linamar Corp. dn $ 0.16 at $ 42.94
Maple Leaf Foods up $ 0.10 at $ 30.50
Nutrien Ltd. up $ 1.30 at $ 67.22
Ritchie Bros Auctioneers Inc. dn $ 0.29 at $ 44.81
Rocky Mountain Dealerships Inc. up $ 0.14 at $ 8.55

(All figures are in Canadian dollars.)
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