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Canadian Financial Close: Loonie inches up on U.S. dollar

By MarketsFarm

WINNIPEG, June 24 (MarketsFarm) – The Canadian dollar was up slightly at market close on Monday, gaining some strength on the United States dollar ahead of the G20 Summit in Japan this week.

The dollar finished the day at US$0.7579 or US$1=C$1.3194, which compares with Friday’s close of US$0.7569 or C$1.3212.

The TSX/S&P Composite Index was steady, losing only 1.96 points on Monday to finish at 16,523.47, as losses in cannabis stocks poked ahead of gains in mining stocks.

Stocks in the United States were mixed, as the G20 approaches. Chinese President Xi Jinping and U.S. President Donald Trump are scheduled to discuss trade between their two countries.

Also, Trump announced the U.S. would impose further sanctions on Iran, following last week’s shooting down of a U.S. Navy surveillance drone. Iran claimed the drone was over their territory, and vowed to shoot down any more drones the U.S. launched. The U.S. claimed the drone was over international waters.

The Dow Jones edged up slightly 23.94 points to close at 26,743.07. The S&P 500 slipped 4.04 points for 2,946.42 on the day. The NASDAQ lost 22.66 to end Monday at 8,009.05 points.

Benchmark oil prices were mixed Monday. Brent crude oil was down 33 cents to close at US$64.87 per barrel. West Texas Intermediate crude oil was up 38 cents to close at US$57.81 per barrel.

As of June 21, Western Canadian Select oil was up 87 cents at US$44.22 per barrel. The price differential between WCS and WTI decreased 24 cents and was at US$13.06 per barrel.

Gold was up US$22.10 on Monday to close at US$1,422.10 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries up $ 0.34 at $ 3.96
Linamar Corp. up $ 0.12 at $ 47.78
Maple Leaf Foods dn $ 0.30 at $ 29.60
Nutrien Ltd. up $ 0.04 at $ 72.36

Ritchie Bros Auctioneers Inc. dn $ 1.97 at $ 45.69
Rocky Mountain Dealerships Inc. dn $ 0.15 at $ 7.76
(All figures are in Canadian dollars.)

About the author

Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

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