Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 6 (MarketsFarm) – The Canadian dollar edged a little higher on Monday, despite a rise in the United States dollar and losses in crude oil prices.
The loonie closed at US$0.7959 or US$1=C$1.2564, compared to Friday’s close of US$0.7950 or US$1=C$1.2579.
On the U.S. Dollar Index, the greenback gained 0.245 of a point at 102.405.
Benchmark crude oil prices were slightly lower on Monday, after reports of Russian crude making its way to buyers in Asia. That countered Saudi Arabia’s larger than expected price hikes.
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Brent crude oil dipped four cents at US$119.68 per barrel. West Texas Intermediate (WTI) crude oil slipped 19 cents at US$118.68 per barrel. Western Canadian Select (WCS) lost US$1.77 at US$97.71 per barrel.
The TSX Composite Index bumped up 28.36 points to finish Monday at 20,819.09.
Gold stepped back US$5.80 at US$1,844.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.37
Farmers Edge Inc. dn $ 0.11 at $ 2.33
Linamar Corp. up $ 0.74 at $ 57.03
Maple Leaf Foods up $ 0.14 at $ 27.72
Nutrien Ltd. dn $ 1.72 at $116.03
Ritchie Bros Auctioneers Inc. up $ 0.37 at $ 77.08
(All figures are in Canadian dollars.)
