Compiled by MarketsFarm
WINNIPEG, April 17 (MarketsFarm) – The Canadian dollar shed a little ground on Monday to its stronger United States counterpart due to losses in crude oil prices.
The Canadian dollar closed at US$0.7464 or US$1=C$1.3398, compared to Friday’s close of US$0.7484 or US$1=C$1.3362. On the U.S. Dollar Index, the greenback gained 0.545 of a point at 101.790.
Benchmark crude oil prices fell back on Monday, as demand slackened and due to the upswing in the U.S. dollar. Talk of some Asian refiners cutting back on production tempered further declines.
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Brent crude oil gave up US$1.46 at US$84.85 per barrel and West Texas Intermediate (WTI) retreated US$1.55 at US$80.97/barrel.
Statistics Canada reported that wholesale sales in February dropped 1.7 per cent from January. However, such sales compared to February 2022 were up 7.4 per cent.
At Monday’s close, the TSX Composite Index added 62.06 points at 20,641.97.
Gold lost US$7.80 at US$2,008.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.08 at $ 2.28 Farmers Edge Inc. dn $ 0.01 at $ 0.195 Linamar Corp. up $ 0.20 at $ 65.35 Maple Leaf Foods up $ 0.10 at $ 27.52 Nutrien Ltd. up $ 2.84 at $100.30 Ritchie Bros Auctioneers Inc. up $ 0.10 at $ 78.76
(All figures are in Canadian dollars.)
