By Commodity News Service Canada
WINNIPEG, Dec. 17 (CNS Canada) – The Canadian dollar was down at market close Monday due to slower global growth and declining oil prices.
The dollar closed at US$0.7463 or US$1=C$1.3399, which compares with Friday’s close of US$0.7474 or C$1.3379.
But Prime Minister Justin Trudeau, armed with a pair of triple ‘A’ ratings from bond rating agencies Moody’s and Standard and Poor’s, said on Monday that Canadians shouldn’t be worried about the federal government’s accumulated debt. Trudeau said Canada is more resilient to an economic downturn, or a recession, because of investments in immigration, skills training, public transportation and a low-carbon economy.
Read Also
Canadian Financial Close: Loonie up as U.S. markets tumble
Glacier FarmMedia — The Canadian dollar regained some ground on Friday as its United States counterpart struggled. The loonie closed…
Oil was down Monday as West Texas Intermediate crude oil fell below US$50 per barrel, dropping by US$2.01 to close at US$49.19 per barrel.
Gold was up Monday by US$8.50 to US$1,246.40 per ounce.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients———dn $ 0.15 at $ 16.70
Buhler Industries—————-unchanged at $ 3.60
Linamar Corp.——————–dn $ 1.20 at $ 44.03
Maple Leaf Foods—————–dn $ 0.36 at $ 27.39
Nutrien Ltd.———————dn $ 1.65 at $ 61.22
Ritchie Bros Auctioneers Inc.—-dn $ 0.26 at $ 42.71
Rocky Mountain Dealerships Inc.–up $ 0.01 at $ 8.26
(All figures are in Canadian dollars.)
