Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Jan. 17 (MarketsFarm) – The Canadian dollar was slightly higher on Monday, on strength of domestic data and increases in crude oil prices.
The loonie closed at US$0.7987 or US$1=C$1.2520, compared to Friday’s close of US$0.7971 or US$1=C$1.2545.
The Canadian Real Estate Association reported that home prices vaulted 26.6 per cent in 2021 to a benchmark of C$811,700. Also a record number of homes, 666,700, were sold.
As well, manufacturing sales in Canada climbed 2.6 per cent at C$63.1 billion in November, according to Statistics Canada.
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On the U.S. Dollar Index, the greenback edged higher by 0.079 a point at 95.240.
Benchmark crude oil prices were slightly stronger on Monday, due to trade expectations that supplies will remain tight. However, an increase in production in Libya held back further gains.
Brent crude oil bumped up 56 cents at US$86.62 per barrel. West Texas Intermediate (WTI) crude oil advanced 48 cents at US$84.30 per barrel. Western Canadian Select (WCS) jumped US$3.50 at US$71.25 per barrel.
At the close, the TSX Composite Index gained 179.89 points on Monday at 21,537.45. The United States markets were closed to mark Martin Luther King Day.
Gold was up US$2.40 at US$1,818.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.06 at $ 3.07
Farmers Edge Inc. dn $ 0.11 at $ 3.04
Linamar Corp. up $ 0.96 at $ 81.16
Nutrien Ltd. up $ 1.30 at $ 91.61
Ritchie Bros Auctioneers Inc. up $ 0.66 at $ 78.33
(All figures are in Canadian dollars.)
