WINNIPEG – The Canadian dollar closed Monday at a level not seen in three years.
The loonie was at US$0.8057 or US$1=C$1.2412 on Monday, up from Friday’s close at US$0.8007 or US$1=C$1.2489, which was fueled by rising commodity prices. It is the loonie’s highest closing value against the U.S. greenback since Feb. 2, 2018 (US$0.8074). Meanwhile, the United States Dollar Index stayed relatively steady, dropping by 0.03 points to 90.83.
Benchmark crude oil prices retreated on Monday as the COVID-19 crisis in India affects demand. Brent crude oil decreased by US$0.41 per barrel to US$65.70. West Texas Intermediate (WTI) crude oil fell by US$0.21 to US$61.93/barrel. Western Canadian Select (WCS) crude oil dropped US$0.53 to US$49.71/barrel.
The TSX Composite Index made gains, rising by 68.23 points to 19,170.56.
Gold increased by US$4.13 per ounce to US$1,781.33.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.08 at $ 3.49
Farmer’s Edge Inc. dn $ 0.06 at $ 16.96
Linamar Corp. up $ 0.20 at $ 75.45
Maple Leaf Foods up $ 0.13 at $ 28.28
Nutrien Ltd. up $ 1.03 at $ 68.16
Ritchie Bros Auctioneers Inc. dn $ 0.44 at $ 78.39
(All figures are in Canadian dollars.)
