WINNIPEG – For the first time in nearly two months, the Canadian dollar closed above the 75 United States cent mark on Monday.
The loonie closed at US$0.7526 or US$1=C$1.3288, up from US$0.7475 or US$1=C$1.3378 on Thursday and the highest the dollar has been since Sept. 19. The Bank of Canada (BoC) did not post a closing exchange rate on Friday because of Remembrance Day.
The United States Dollar Index gained 0.57 of a point at 106.86.
Crude oil prices tumbled on Monday after a monthly report from OPEC+ cut its global demand forecast. Brent crude oil fell US$3.46 per barrel to US$92.53. West Texas Intermediate (WTI) crude oil dropped US$3.80 at US$85.16/barrel. Western Canadian Select (WCS) retreated US$3.06/barrel to US$56.53.
The TSX/S&P Composite Index shed 189.70 points to 19,921.81.
Gold increased US$5.20 at US$1,774.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. dn $ 0.05 at $ 1.85
Farmer’s Edge Inc. dn $ 0.03 at $ 0.36
Linamar Corp. dn $ 0.62 at $ 61.82
Maple Leaf Foods up $ 0.09 at $ 23.80
Nutrien Ltd. up $ 1.81 at $103.57
Ritchie Bros Auctioneers Inc. up $ 1.87 at $ 74.52
(All figures are in Canadian dollars.)
