Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 16 (MarketsFarm) – The Canadian dollar was higher on Monday, due to good economic news, a lower United States dollar, and stronger crude oil prices.
The loonie closed at US$0.7759 or US$1=C$1.2888, compared to Friday’s close of US$0.7720 or US$1=C$1.2953.
This comes after Statistics Canada reported that manufacturing and wholesale sales were higher in March at 2.5 and 0.3 per cent respectively. However, the Canadian Real Estate Association reported the house price index slipped 0.6 per cent in April from March.
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On the United States Dollar Index, the greenback stepped back 0.356 of a point at 104.260.
Benchmark crude oil prices were higher on Monday, fueled by supply concerns as consumption is set to rise during the summer months.
Brent crude oil gained US$2.60 at US$110.05 per barrel. West Texas Intermediate (WTI) crude oil rose US$3.46 at US$113.95 per barrel. Western Canadian Select (WCS) increased US$3.05 at US$100.11 per barrel.
The TSX Composite Index climbed 106.60 points to finish at 20,206.41 on Monday.
Gold increased US$14.60 at US$1,822.80 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.49
Farmers Edge Inc. unchanged at $ 2.50
Linamar Corp. dn $ 1.43 at $ 50.16
Maple Leaf Foods dn $ 0.42 at $ 27.72
Nutrien Ltd. up $ 2.37 at $130.25
Ritchie Bros Auctioneers Inc. dn $ 0.20 at $ 79.76
(All figures are in Canadian dollars.)
