By MarketsFarm
WINNIPEG, March 16 (MarketsFarm) – The Canadian dollar was weaker on Monday, as fears over the COVID-19 coronavirus pandemic continued to wreaked havoc in the markets.
The dollar finished the day at US$0.7161 or US$1=C$1.3964, compared to Friday when it closed at US$0.7194 or US$1=C$1.3901.
Canadian Prime Minister Justin Trudeau announced a series of measures on Monday to help halt the spread of COVID-19. These measures included closing Canada’s borders to all foreign travelers, except United States citizens, plus limiting all international flights to airports in Montreal, Toronto, Calgary and Vancouver. Also, C$10 billion will be made available by the federal government for businesses hurt by the pandemic.
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Despite the measures, the TSX Composite Index still lost 1,355.93 points to close at 12,360.40.
Benchmark crude oil prices continued downward as well on Monday, due to COVID-19 and the Saudi-Russia oil price war.
Brent crude oil was sank US$4.01 to close at US$29.84 per barrel. West Texas Intermediate (WTI) crude oil fell US$2.97 to close at US$28.76 per barrel. Western Canadian Select dropped US$1.69 to close at US$17.84 per barrel.
Gold was down US$28.40 at 1,500.81 per counce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.85
Linamar Corp. dn $ 3.81 at $ 29.89
Maple Leaf Foods dn $ 1.51 at $ 20.78
Nutrien Ltd. dn $ 4.90 at $ 38.46
Ritchie Bros Auctioneers Inc. dn $ 3.10 at $ 45.13
Rocky Mountain Dealerships Inc. dn $ 0.37 at $ 3.86
(All figures are in Canadian dollars.)
