Compiled by MarketsFarm
WINNIPEG, July 31 (MarketsFarm) – The Canadian dollar gained some ground on Monday, due to upticks in global and domestic oil prices.
With the loonie’s close yet to be finalized by the Bank of Canada, the currency was at US$0.7582 or US$1=C$1.3190, compared to Friday’s finish of US$0.7557 or US$1=C$1.3232. On the U.S. Dollar Index the greenback bumped up 0.261 of a point at 101.660.
Benchmark crude oil prices were higher on Monday on a combination of production cuts and excessive heat. Meanwhile in Alberta, output dropped 21 per cent due to maintenance at oil sands facilities and the partial exclusion of Suncor’s data.
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Brent crude oil tacked on 57 cents at US$85.56 per barrel and West Texas Intermediate rose US$1.28 at US$81.86, while Western Canadian Select jumped US$3.12 at US$68.14.
The TSX Composite Index gained 107.27 points on Monday to close at 20,626.64.
Gold added US$4.00 at US$2,003.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.02 at $ 2.12 Farmers Edge Inc. unchanged at $ 0.23 Linamar Corp. up $ 0.53 at $ 76.52 Maple Leaf Foods up $ 0.32 at $ 27.52 Nutrien Ltd. up $ 1.22 at $ 90.87 Ritchie Bros Auctioneers Inc. dn $ 0.07 at $ 85.16
(All figures are in Canadian dollars)
