WINNIPEG – The Canadian dollar held relatively steady on Monday, finding some support from a firm tone in crude oil.
The Canadian dollar settled at US$0.7312 or US$1=C$1.3676 on Monday, which compares with Friday’s close of US$0.7308 or US$1=C$1.3683.
Canada’s seasonally adjusted Ivey Purchasing Index came in at 53.4 in October, beating the 53.1 reading from the previous month but below average pre-report expectations calling for a 54.0 reading. Anything above 50.0 represents an increase in purchases.
Crude oil was underpinned by the ongoing unrest in the Middle East and expectations for production cuts from Saudia Arabia, with West Texas Intermediate up by 0.39 per cent at US$80.82 per barrel.
The TSX Composite Index was weaker, losing 80.91 points to close at 19,743.94 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-up $ 0.08 at $ 2.34
Linamar Corp.——————–up $ 0.29 at $ 64.23
Maple Leaf Foods—————–up $ 0.01 at $ 25.59
Nutrien Ltd.———————dn $ 3.16 at $ 73.71
Ritchie Bros Auctioneers Inc.—-dn $ 1.62 at $ 91.40
Farmers Edge Inc.—————-dn $ 0.005 at $ 0.12
(All figures are in Canadian dollars.)
