WINNIPEG – The Canadian dollar took a tumble on Monday, following the lead of crude oil prices.
As of 3:20 p.m. CDT, the loonie was at US$0.7312 or US$1=C$1.3676, compared to US$0.7396 or US$1=C$1.3520 on Friday. The Bank of Canada (BoC) did not post a closing exchange rate on Monday due to the National Day For Truth And Reconciliation.
The United States Dollar Index surged 0.79 of a point at 107.01 for its highest level since November 2022.
That stronger U.S. dollar plus profit-taking sent crude oil to its lowest prices in three weeks. Brent crude oil lost US$1.62 at US$90.58 per barrel. West Texas Intermediate (WTI) fell US$1.99 to US$88.80/barrel.
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With rising U.S. bond yields, the TSX/S&P Composite Index fell 364.09 points to 19,177.18, its lowest close since Oct. 25, 2022.
Gold dropped US$21.10 at US$1,845.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.12 at $ 2.53
Farmer’s Edge Inc. dn $ 0.005 at $ 0.16
Linamar Corp. dn $ 0.23 at $ 65.20
Maple Leaf Foods dn $ 0.10 at $ 26.00
Nutrien Ltd. dn $ 2.02 at $ 81.86
Ritchie Bros Auctioneers Inc. up $ 0.40 at $ 85.44
(All figures are in Canadian dollars.)
