Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 3 (MarketsFarm) – The Canadian dollar closed higher on Monday, adding nearly a quarter of a cent as the United States dollar pulled back and crude oil prices swung upward.
The loonie closed at US$0.7320 or US$1=C$1.3662, compared to Thursday’s close of US$0.7296 or US$1=C$1.3707.
On the U.S. Dollar Index, the greenback lost 0.504 of a point at 111.580.
Benchmark crude oil prices were stronger on Monday following the OPEC+ announcement that the alliance will be cutting production by one million barrels per day.
Brent crude oil gained US$3.539 at US$88.53 per barrel. West Texas Intermediate (WTI) crude oil advanced US$3.65 at US$83.14/barrel. Western Canadian Select (WCS) increased US$3.27 at US$61.04 per barrel.
The TSX Composite Index added 436.97 points to finish Monday at 18,881.19.
Gold jumped $36.70 at US$1,708.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.08 at $ 2.03
Farmers Edge Inc. dn $ 0.11 at $ 0.60
Linamar Corp. up $ 1.27 at $ 55.08
Maple Leaf Foods up $ 0.36 at $ 21.00
Nutrien Ltd. up $ 0.29 at $115.49
Ritchie Bros Auctioneers Inc. dn $ 0.32 at $ 85.99
(All figures are in Canadian dollars.)
