WINNIPEG – The Canadian dollar moved back above the 73 United States cent mark on Monday.
The loonie closed at US$0.7309 or US$1=C$1.3682, up from US$0.7266 or US$1=C$1.3763 on Friday. Canadian Finance Minister Chrystia Freeland will unveil the federal budget in the House of Commons on Tuesday.
The U.S. Dollar Index declined 0.28 of a point at 102.84.
Crude oil rose to its highest level in two weeks on Monday due to shipments from Kurdistan being halted and French refineries running at limited capacity because of ongoing strikes. Brent crude oil jumped US$3.24 per barrel to US$78.23. West Texas Intermediate (WTI) surged US$3.78 at US$73.04/barrel. Western Canadian Select (WCS) advanced US$3.73/barrel to US$72.99.
The TSX/S&P Composite Index gained 123.25 points to close at 19,624.74.
Gold fell US$25.60 at US$1,958.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.03 at $ 2.27
Farmer’s Edge Inc. up $ 0.01 at $ 0.18
Linamar Corp. dn $ 0.07 at $ 61.84
Maple Leaf Foods up $ 0.76 at $ 24.96
Nutrien Ltd. up $ 0.48 at $ 99.04
Ritchie Bros Auctioneers Inc. up $ 1.04 at $ 75.77
(All figures are in Canadian dollars.)
