WINNIPEG – The Canadian dollar slipped back on Monday due to softening crude oil prices and speculation regarding the Bank of Canada’s (BoC) interest rate announcement on Wednesday.
The loonie was at US$0.8078 or US$1=C$1.2379 on Monday, down from Friday’s price of US$0.8093 or US$1=C$1.2357. The BoC is expected to raise its inflation forecast and end stimulus from its bond-buying program.
The United States Dollar Index was up 0.19 of a point at 93.84.
Benchmark crude oil prices were mixed on Monday. Brent crude oil increased US$0.25 per barrel to US$85.78. West Texas Intermediate (WTI) crude oil decreased US$0.23 to US$83.53/barrel. Meanwhile, Western Canadian Select (WCS) crude oil fell US$1.13 to US$67.80/barrel.
Read Also
Canadian Financial Close: Loonie up as U.S. markets tumble
Glacier FarmMedia — The Canadian dollar regained some ground on Friday as its United States counterpart struggled. The loonie closed…
The TSX/S&P Composite Index extended its rally to 14 days, the longest since 1985, rising 68.69 points to 21,284.84.
Gold jumped US$14.20 per ounce to US$1,806.86.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.01 at $ 3.20
Farmer’s Edge Inc. up $ 0.08 at $ 5.00
Linamar Corp. unchanged at $ 67.89
Maple Leaf Foods dn $ 0.38 at $ 27.29
Nutrien Ltd. up $ 0.77 at $ 87.46
Ritchie Bros Auctioneers Inc. up $ 1.35 at $ 84.91
(All figures are in Canadian dollars.)
