WINNIPEG – The Canadian dollar mostly held steady on Monday despite underwhelming manufacturing data from Statistics Canada released earlier today.
The loonie was at US$0.8236 or US$1=C$1.2142 on Monday, up from Friday’s close at US$0.8232 or US$1=C$1.2148. Meanwhile, the United States Dollar Index only slipped 0.05 points to 90.51. Statistics Canada reported that manufacturing sales fell 2.1 per cent in April to C$57.1 billion due to a shortage of semiconductor chips. Excluding the transportation industry, sales rose 1.5 per cent.
Benchmark crude oil prices moved upward on Monday. Brent crude oil gained US$0.36 per barrel to US$73.05. West Texas Intermediate (WTI) crude oil increased US$0.17 to US$71.08/barrel. Western Canadian Select (WCS) crude oil advanced US$0.20 to US$56.95/barrel.
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Despite declines in American stock markets, the TSX Composite Index increased 19.30 points to 20,157.65.
Gold dropped US$11.64 per ounce to US$1,865.89 due to rising U.S. Treasury yields.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.49
Farmer’s Edge Inc. dn $ 0.26 at $ 12.34
Linamar Corp. dn $ 1.17 at $ 81.25
Maple Leaf Foods up $ 0.08 at $ 26.39
Nutrien Ltd. dn $ 1.50 at $ 77.41
Ritchie Bros Auctioneers Inc. up $ 0.96 at $ 72.31
(All figures are in Canadian dollars.)
