Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 19 (MarketsFarm) – The Canadian dollar was slightly lower on Monday, just before the first federal budget in two years was introduced in the House of Commons.
The loonie finished at US$0.7988 or US$1=C$1.2519, compared to Friday’s close of US$0.7998 or US$1=C$1.2503.
Canadian Minister of Finance Chrystia Freeland announced new federal spending of C$101.4 billion over three years, including C$30 billion over five years for childcare. Also, there’s a deficit of C$354.2 billion for the fiscal year 2020/21 and another C$154.7 billion to be added in 2021/22.
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On the U.S. Dollar Index, the greenback lost 0.454 at 91.085 points.
Benchmark crude oil prices were slightly higher on Monday, as slightly weaker U.S. dollar provided support, while a global surge in COVID-19 cases tempered the increases.
Brent crude oil gained 33 cents at US$67.10 per barrel. West Texas Intermediate (WTI) crude oil rose 27 cents at US$63.40/barrel. Western Canadian Select (WCS) was up 30 cents at US$51.75/barrel.
The TSX Composite Index dropped back 146.90 points on Monday to finish at 19,204.42.
Gold fell US$9.60 at US$1,770.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.04 at $ 3.79
Farmers Edge Inc. up $ 0.01 at $ 17.93
Linamar Corp. dn $ 0.40 at $ 73.83
Maple Leaf Foods up $ 0.85 at $ 28.06
Nutrien Ltd. dn $ 2.45 at $ 67.60
Ritchie Bros Auctioneers Inc. dn $ 0.28 at $ 78.44
(All figures are in Canadian dollars.)
