WINNIPEG – The Canadian dollar gained a firmer tone to begin the week due to a weakening United States greenback and higher crude oil prices.
The loonie closed at US$0.7723 or US$1=C$1.1948, up from US$0.7670 or US$1=C$1.3038 on Friday. The U.S. Dollar Index eased off 0.63 of a point to 107.43.
Crude oil prices jumped above US$100 per barrel on Monday after the Saudis held off on making any commitments to increasing output. Brent crude oil surged US$4.59 per barrel at US$105.75. West Texas Intermediate (WTI) crude oil rose US$4.54 at US$102.13/barrel. Western Canadian Select (WCS) grew US$2.30 per barrel to US$78.72.
The TSX/S&P Composite Index settled 201.17 points higher at Monday’s close after climbing as much as 320 points during the day.
Gold added US$1.70 at US$1,705.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.39
Farmer’s Edge Inc. dn $ 0.05 at $ 1.29
Linamar Corp. up $ 1.48 at $ 55.43
Maple Leaf Foods up $ 0.06 at $ 25.41
Nutrien Ltd. up $ 1.83 at $ 97.22
Ritchie Bros Auctioneers Inc. dn $ 1.04 at $ 87.25
(All figures are in Canadian dollars.)
