WINNIPEG – The Canadian dollar held steady on Monday despite falling crude oil prices.
The loonie was at US$0.8019 or US$1=C$1.2471 on Monday, down from Friday’s close at US$0.8015 or US$1=C$1.2476. Meanwhile, the United States Dollar Index was up 0.11 points at 92.24.
Benchmark crude oil prices continued their declines on Monday over uncertainty regarding future output. Brent crude oil decreased US$0.29 per barrel to US$75.26. West Texas Intermediate (WTI) crude oil dropped US$0.43 to US$74.13/barrel. Western Canadian Select (WCS) crude oil fell US$0.68 to US$61.16/barrel.
The TSX Composite Index slipped back 24.87 points to 20,233.08. Meanwhile, both Nasdaq and the S&P 500 reached record highs with investors awaiting economic data and the second-quarter earnings season.
Gold retreated US$2.73 per ounce to US$1,805.59.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.03 at $ 3.27
Farmer’s Edge Inc. dn $ 0.15 at $ 11.84
Linamar Corp. up $ 0.42 at $ 75.46
Maple Leaf Foods dn $ 0.17 at $ 24.88
Nutrien Ltd. up $ 0.27 at $ 76.49
Ritchie Bros Auctioneers Inc. dn $ 0.13 at $ 74.19
(All figures are in Canadian dollars.)
