Canadian Financial Close: Trade truce, upcoming OPEC meeting help loonie
By Commodity News Service Canada
WINNIPEG, Dec. 3 (CNS Canada) – The Canadian dollar was up at market close Monday.
The dollar closed at US$0.7581 or US$1=C$1.3191, which compares with Friday’s close of US$0.7518 or C$1.3301.
The increase was aided by two factors; one was the 90-day truce in the United States/China trade war agreed to at the recent G20 meeting in Argentina. The other is upcoming OPEC meeting at which members are expected to announce production cuts to increase world oil prices.
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Oil was up Monday as West Texas Intermediate crude oil rose by US$2.19 to close at US$53.12 per barrel.
Gold was up Monday by US$10.20 to US$1,236.20 per ounce.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients———up $ 0.35 at $ 15.84
Buhler Industries—————-unchanged at $ 3.69
Linamar Corp.——————–up $ 0.29 at $ 48.46
Maple Leaf Foods—————–dn $ 0.22 at $ 29.32
Nutrien Ltd.———————up $ 0.59 at $ 69.03
Ritchie Bros Auctioneers Inc.—-dn $ 0.63 at $ 45.57
Rocky Mountain Dealerships Inc.–dn $ 0.09 at $ 9.12
(All figures are in Canadian dollars.)
