WINNIPEG – The Canadian dollar slipped on Monday while crude oil prices reached levels unseen since 2008.
The loonie was at US$0.7829 or US$1=C$1.2773 on Monday, down from Friday’s close of US$0.7843 or US$1=C$1.2750.
The United States Dollar Index jumped 0.55 of a point to 99.19, the highest level since May 2020.
Crude oil prices continued to rise sharply as the Russia-Ukraine conflict intensifies, while the U.S. government is considering a ban of Russian crude oil imports. Brent crude oil spiked US$5.46 per barrel to US$123.57. West Texas Intermediate (WTI) crude oil rose US$4.40 to US$120.08/barrel. Western Canadian Select (WCS) climbed US$5.00 to US$107.57.
The TSX/S&P Composite Index added to its recent losses, shedding 98.03 points to 21,304.40.
Gold has surpassed the US$2,000 per ounce mark, rising US$34.90 to US$2,001.50.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.50
Farmer’s Edge Inc. unchanged at $ 3.22
Linamar Corp. dn $ 5.34 at $ 53.42
Maple Leaf Foods dn $ 0.29 at $ 27.59
Nutrien Ltd. up $ 6.41 at $127.33
Ritchie Bros Auctioneers Inc. up $ 0.05 at $ 72.76
(All figures are in Canadian dollars.)
