WINNIPEG – The Canadian dollar approached the 77 United States cent mark on Monday.
The loonie closed at US$0.7696 or US$1=C$1.2994, up from US$0.7672 or US$1=C$1.3035 on Friday. The U.S. Dollar Index lost 0.25 of a point to 104.45 on Monday.
Crude oil prices were a little bit higher to start the week as traders try to assess whether tightening monetary policy will result in a recession. Brent crude oil increased US$1.01 per barrel at US$114.13. West Texas Intermediate (WTI) crude oil advanced US$0.71 at US$110.27/barrel. Western Canadian Select (WCS) was up US$0.24 to US$91.75.
The TSX/S&P Composite Index bounced back after its worst performing week in two years, rising 253.15 points to 19,183.63.
Gold inched upwards US$0.10 at US$1,840.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.27
Farmer’s Edge Inc. up $ 0.05 at $ 1.60
Linamar Corp. up $ 0.75 at $ 54.80
Maple Leaf Foods up $ 0.14 at $ 26.04
Nutrien Ltd. up $ 3.87 at $112.05
Ritchie Bros Auctioneers Inc. up $ 0.58 at $ 78.10
(All figures are in Canadian dollars.)
