By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar edged up on Monday, supported by gains in crude oil.
The loonie closed at US$0.7320 or US$1=C$1.3661, compared to Friday’s finish of US$0.7314 or US$1=C$1.3672. On the U.S. Dollar Index, the greenback tacked on 0.017 of a point at 104.565.
Benchmark crude oil prices were slightly higher on Monday, as OPEC+ production cuts underpinned values. A moderating tone came after Hamas announced it would accept the cease-fire deal proposed by Qatar and Egypt, however Israel had yet to state its position.
Brent crude oil rose 43 cents at US$83.39 per barrel and West Texas Intermediate added 46 cents at US$78.57.
The TSX Composite Index advanced 312.06 points on Monday, to close at 22,259.47.
Gold jumped US$25.90 at US$2,334.50 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.23 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.03 at $ 64.01 Maple Leaf Foods dn $ 0.27 at $ 23.46 Nutrien Ltd. up $ 1.38 at $ 73.80 RB Global Inc. dn $ 2.05 at $ 96.75
(All figures are in Canadian dollars)
