Canadian Financial Close: C$ firm ahead of BoC announcement

By MarketsFarm

WINNIPEG, June 7 (MarketsFarm) – The Canadian dollar was slightly firmer on Monday, holding within a narrow range as investors adjusted positions ahead of the Bank of Canada’s latest interest rate decision on Wednesday.
The Canadian dollar closed at US$0.8283 or US$1=C$1.2073 on Monday, which compares with Friday’s North American close of US$0.8275 or US$1=C$1.2084.
The Bank of Canada is generally expected to maintain a cautious tone and keep rates unchanged on Wednesday, although the accompanying statement will be followed closely.

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News out of Ontario that the province will start loosening COVID-19 restrictions on June 11, three days ahead of schedule, was somewhat supportive for the Canadian dollar amid improving economic sentiment.
Crude oil was softer on Monday, with West Texas Intermediate down by 0.57 per cent at US$69.22 per barrel.
The TSX Composite Index was posted a small gain, up 6.11 points, or 0.03 per cent, to close at 20,035.30 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————-dn $ 0.06 at $ 3.44
Linamar Corp.——————–dn $ 0.51 at $ 82.97
Maple Leaf Foods—————–dn $ 0.07 at $ 26.64
Nutrien Ltd.———————dn $ 0.06 at $ 77.91
Ritchie Bros Auctioneers Inc.—-dn $ 1.78 at $ 70.17
Farmers Edge Inc.—————-up $ 0.97 at $ 11.69

(All figures are in Canadian dollars.)