The Canadian dollar rose on Monday just hours before Canada Day.
The loonie closed the day at US$0.7330 or US$1=C$1.3643, compared to US$0.7312 or US$1=C$1.3676 on Friday. Canada and the United States restarted trade talks earlier today after the former rescinded its planned digital services tax. U.S. President Donald Trump cited the levy as the reason for cutting off talks on Friday.
Canadian markets will be closed on Tuesday for Canada Day.
The U.S. Dollar Index lost 0.59 of a point at 96.81, its lowest level in three years.
Benchmark crude oil prices declined on Monday after reports suggested OPEC+ is planning on raising output beginning in August. West Texas Intermediate dropped US$0.44 at US$65.08 per barrel, while Brent crude oil retreated US$0.16 at US$67.61/barrel.
The TSX/S&P Composite Index gained 164.79 points at 26,857.11, an all-time high.
Gold rose US$32.50 per ounce at $3,320.10.
Canada’s agricultural sector fared as follows:
Linamar Corp. up $ 1.04 at $ 64.80
Maple Leaf Foods up $ 0.11 at $ 28.37
Nutrien Ltd. dn $ 0.31 at $ 79.35
RB Global Inc. dn $ 0.19 at $144.67
(All figures are in Canadian dollars.)
