Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 12 (MarketsFarm) – The Canadian dollar eased back a little on Monday, as the United States dollar made a small advance.
The loonie closed at US$0.7322 or US$1=C$1.3658, compared to Friday’s close of US$0.7337 or US$1=C$1.3630. On the U.S. Dollar Index, the greenback advanced 0.170 of a point at 104.650.
Bank of Canada Governor Tiff Macklem stated in his year-end speech that the central bank will continue with more interest rate hikes to quell inflation regardless of the economic turmoil that would be caused.
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Benchmark crude oil prices were stronger on Monday as China’s move away from its strict COVID-19 lockdown measure is to spur demand. As well, the Keystone pipeline remained shut down as TC Energy struggles to fix the leak.
Brent crude oil climbed US$2.12 at US$78.22 per barrel. West Texas Intermediate (WTI) crude oil gained US$2.43 at US$73.45/barrel. Western Canadian Select (WCS) was up US$1.29 at US$44.89/barrel.
The TSX Composite Index tacked on 70.54 points to finish Monday at 20,017.61.
Gold dropped US$18.30 at US$1,791.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 1.80 Farmers Edge Inc. dn $ 0.005 at $ 0.33 Linamar Corp. up $ 1.10 at $ 66.10 Maple Leaf Foods up $ 0.37 at $ 23.90 Nutrien Ltd. up $ 0.93 at $105.73 Ritchie Bros Auctioneers Inc. dn $ 0.30 at $ 76.89
(All figures are in Canadian dollars.)
