Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 4 (MarketsFarm) – The Canadian dollar was slightly higher on Monday, as crude oil prices swung upward.
Also underpinning the Canadian dollar was a Bank of Canada survey that found expectations of high inflation sticking around longer than initially believed.
The loonie closed at US$0.7772 or US$1=C$1.2867, compared to Thursday’s close of US$0.7760 or US$1=C$1.2886.
On the U.S. Dollar Index, the greenback bumped up 0.066 of a point at 104.975.
Benchmark crude oil prices were stronger on Monday, due to tight global supplies.
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Brent crude oil rose US$1.87 at US$113.50 per barrel. West Texas Intermediate (WTI) crude oil advanced US$2.23 at US$110.66 per barrel. Western Canadian Select (WCS) increased US$2.51 at US$90.11 per barrel.
The TSX Composite Index was up 167.50 points to finish Monday at 19,028.86.
Gold gained US$6.80 at US$1,808.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.34
Farmers Edge Inc. dn $ 0.24 at $ 1.69
Linamar Corp. up $ 0.55 at $ 55.09
Maple Leaf Foods up $ 0.10 at $ 25.41
Nutrien Ltd. dn $ 0.16 at $102.35
Ritchie Bros Auctioneers Inc. up $ 2.52 at $ 86.27
(All figures are in Canadian dollars.)
