WINNIPEG – The Canadian dollar fell below the 78 United States cent mark on Monday while crude oil prices inched higher.
The loonie closed at US$0.7755 or US$1=C$1.2895, down from US$0.7817 or US$1=C$1.2792 on Friday. The U.S. Dollar Index gained 0.68 of a point at 103.63, maintaining a 20-year high level over the past week.
Crude oil prices made gains as heightened demand for diesel fuel outweighed concerns over COVID-19 lockdowns in China. Brent crude oil advanced US$0.81 per barrel at US$107.95. West Texas Intermediate (WTI) crude oil rose US$0.67 at US$105.36/barrel. Western Canadian Select (WCS) jumped US$1.09 to US$92.73.
The TSX/S&P Composite Index continued its downturn, shedding 69.78 points at 20,692.22.
Gold fell US$49.80 per ounce to US$1,861.90 due to higher U.S. Treasury bond yields.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.55
Farmer’s Edge Inc. up $ 0.02 at $ 2.58
Linamar Corp. up $ 0.54 at $ 51.42
Maple Leaf Foods dn $ 1.02 at $ 27.27
Nutrien Ltd. up $ 1.59 at $127.83
Ritchie Bros Auctioneers Inc. dn $ 2.32 at $ 68.44
(All figures are in Canadian dollars.)
