By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar continued to step back on Monday, with weakness in crude oil weighing on values. However, losses in the United States dollar tempered further declines.
The loonie finished at US$0.7270 or US$1=C$1.3755, compared to Friday’s close of US$0.7284 or US$1=C$1.3728. The U.S. Dollar Index turned around from strong gains to lose 0.317 of a point at 97.965.
Benchmark crude oil prices turned weaker on Monday as Iran has yet to close the Strait of Hormuz. The possibility of the latter soon occurring came after the U.S. attacked Iranian nuclear facilities over the weekend.
Brent crude dropped US$6.30 at US$70.71 per barrel and West Texas Intermediate fell US$6.02 at US$67.82.
The TSX Composite Index increased 111.79 points on Monday, to close at 26,609.36.
Gold rose US$5.60 at US$3,391.30 per ounce.
Canada’s agricultural sector fared as follows:
Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.21 at $ 62.96 Maple Leaf Foods up $ 0.18 at $ 28.46 Nutrien Ltd. dn $ 0.94 at $ 81.87 RB Global Inc. dn $ 0.27 at $143.25
(All figures are in Canadian dollars)
