By MarketsFarm
WINNIPEG, April 3 (MarketsFarm) – The Canadian dollar was stronger on Monday, as a rally in crude oil provided support.
The Canadian dollar settled at US$0.7442 or US$1=C$1.3438 on Monday, which compares with Friday’s close of US$0.7389 or US$1=C$1.3533.
OPEC+ made a surprise announcement over the weekend that in an effort to stabilize volatile markets its member nations would be cutting output significantly starting in May.
West Texas Intermediate crude oil was up by 6.4 per cent at US$80.52 per barrel.
The TSX Composite Index was up by 178.39 points or 0.89 per cent to close at 20,278.28 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.20
Linamar Corp.——————–dn $ 0.82 at $ 64.21
Maple Leaf Foods—————–dn $ 0.86 at $ 25.29
Nutrien Ltd.———————dn $ 0.33 at $ 99.48
Ritchie Bros Auctioneers Inc.—-dn $ 0.43 at $ 75.61
Farmers Edge Inc.—————-up $ 0.035 at $ 0.215
(All figures are in Canadian dollars.)
