WINNIPEG – The Canadian dollar dipped below 79 cents United States on Monday hours after the United States Federal Reserve released a survey outlining consumers’ expectations on inflation.
The loonie was at US$0.7898 or US$1=C$1.2661 on Monday, compared to Friday’s close at US$0.7917 or US$1=C$1.2631. According to the Fed, U.S. consumers expect inflation to move up to 5.2 per cent next year and four per cent over the next three years with both measurements at its highest level since 2013.
The U.S. Dollar Index was up 0.05 of a point at 92.63.
Benchmark crude oil prices were higher on Monday. Brent crude oil increased US$0.73 per barrel to US$73.65. West Texas Intermediate (WTI) crude oil jumped US$0.93 to US$70.65/barrel. Meanwhile, Western Canadian Select (WCS) crude oil surged US$1.07 to US$58.97/barrel.
The TSX/S&P Composite Index increased 33.35 points at 20,666.41.
Gold moved up US$5.82 per ounce to US$1,793.41.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 3.23
Farmer’s Edge Inc. dn $ 0.06 at $ 4.85
Linamar Corp. dn $ 1.13 at $ 68.67
Maple Leaf Foods dn $ 0.22 at $ 26.97
Nutrien Ltd. up $ 0.23 at $ 78.79
Ritchie Bros Auctioneers Inc. dn $ 1.65 at $ 80.66
(All figures are in Canadian dollars.)