By MarketsFarm
WINNIPEG, July 20 (MarketsFarm) – The Canadian dollar was higher on Monday as hopes for a COVID-19 vaccine generated some optimism in the financial markets.
The loonie finished at US$0.7384 or US$1=C$1.3543, compared to Friday when it closed at US$0.7367 or US$1=C$1.3574.
The TSX Composite Index rose 60.18 points on Monday, to close at 16,183.66. However, the continuing surge in the number of reported cases, especially in the United States, capped further increases in the markets. There are increased worries that lockdown measures could be re-imposed in a number of areas.
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Benchmark crude oil prices were steady on Monday, as spillover from the stock markets edged out growing concerns about another drop in the demand for oil due to the pandemic.
Brent crude oil increased 10 cents at US$43.24 per barrel. West Texas Intermediate (WTI) crude oil gained 12 cents at US$40.71 per barrel. Western Canadian Select (WCS) was up five cents at US$31.58 per barrel.
Gold gained US$7.61 at US$1,818.03 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.59
Linamar Corp. up $ 0.15 at $ 38.64
Maple Leaf Foods dn $ 0.20 at $ 27.46
Nutrien Ltd. dn $ 1.09 at $ 43.98
Ritchie Bros Auctioneers Inc. dn $ 0.18 at $ 57.56
Rocky Mountain Dealerships Inc. dn $ 0.23 at $ 3.99
(All figures are in Canadian dollars.)
