WINNIPEG – The Canadian dollar edged up on Monday, due to a pullback in the United States dollar and despite a drop in global crude oil prices.
The loonie closed at US$0.7229 or US$1=C$1.3833, compared to Friday’s finish of US$0.7217 or US$1=C$1.3857.
On the U.S. Dollar Index, the greenback gave up 0.445 of a point at 105.935, ahead of the U.S. Federal Reserve’s meeting that’s to start Wednesday. Expectations have called for the Fed to freeze its key interest rates.
Benchmark crude oil prices weakened on Monday, as there have been no punitive measures taken in the Middle East to Israel’s ground assault into the Gaza Strip.
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Brent crude oil lost US$2.68 at US$87.80 per barrel, while West Texas Intermediate retreated $3.08 at US$82.46.
The TSX Composite Index climbed 119.37 points on Monday to close at 18,856.76.
Gold added US$7.40 at US$2,005.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.31 Farmers Edge Inc. dn $ 0.02 at $ 0.09 Linamar Corp. up $ 0.06 at $ 60.26 Maple Leaf Foods up $ 0.51 at $ 26.64 Nutrien Ltd. up $ 0.51 at $ 77.47 Rb Global Inc. up $ 1.61 at $ 87.95
(All figures are in Canadian dollars)
