WINNIPEG – The Canadian dollar was lower on Monday despite higher crude oil prices.
The loonie closed at US$0.7687 or US$1=C$1.3009, down from US$0.7699 or US$1=C$1.2989 on Friday. The United States Dollar Index was virtually unchanged, nudging up 0.01 of a point to 108.81.
Crude oil prices made gains on Monday due to fears of production outages at Libyan refineries amidst fighting between militias, while negotiations for a renewed nuclear deal between Iran and the U.S. will extend into September, adding onto the wait for additional oil supplies. Brent crude oil rose US$3.83 per barrel to US$104.82. West Texas Intermediate (WTI) crude oil also rose US$3.83 at US$96.89/barrel. Western Canadian Select (WCS) jumped US$3.94 per barrel to US$76.98.
The TSX/S&P Composite Index lost 37.17 points at 19.836.12.
Gold only added US$0.20 at US$1,750.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Ind. up $ 0.17 at $ 2.09
Farmer’s Edge Inc. dn $ 0.01 at $ 0.61
Linamar Corp. up $ 0.82 at $ 62.24
Maple Leaf Foods up $ 0.08 at $ 23.08
Nutrien Ltd. dn $ 2.10 at $128.78
Ritchie Bros Auctioneers Inc. up $ 0.21 at $ 90.85
(All figures are in Canadian dollars.)
