By MarketsFarm
WINNIPEG, Sept. 18 (MarketsFarm) – The Canadian dollar was stronger on Monday, hitting its highest level relative to its United States counterpart in a month as currency traders adjusted positions ahead of data due out Tuesday that’s expected to show an increase in Canada’s rate of inflation.
The Canadian dollar settled at US$0.7412 or US$1=C$1.3491 on Monday, which compares with Friday’s close of US$0.7393 or US$1=C$1.3526.
Canada’s Industrial Product Price Index was up by 1.5 per cent in August compared to the previous month, but down by 0.5 per cent annually, according to updated data from Statistics Canada. The country’s Raw Materials Price Index was up by 3.0 per cent on the month but still down by 4.3 per cent over the year.
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Canadian housing starts came in at 252,800 units in March, according to a report from the Canadian Mortgage and Housing Corporation. That was down slightly from July but above pre-report expectations.
Crude oil was firmer, with West Texas Intermediate up by 1.32 per cent at US$91.97 per barrel.
The TSX Composite Index weakened, losing 129.51 points to close at 20,492.83 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.40
Linamar Corp.——————–dn $ 0.13 at $ 66.90
Maple Leaf Foods—————–up $ 0.05 at $ 27.96
Nutrien Ltd.———————dn $ 2.08 at $ 84.52
Ritchie Bros Auctioneers Inc.—-up $ 0.97 at $ 88.50
Farmers Edge Inc.—————-dn $ 0.025 at $ 0.19
(All figures are in Canadian dollars.)
