By MarketsFarm
WINNIPEG, Sep. 12 (MarketsFarm) – The Canadian dollar was stronger on Monday, as bullish technical signals and gains in crude oil helped the currency move to its highest level in two weeks relative to its United States counterpart.
The Canadian dollar settled at US$0.7704 or US$1=C$1.2980 on Monday, which compares with Friday’s close of US$0.7672 or US$1=C$1.3035.
While concerns over Chinese demand did put some pressure on crude oil, supply uncertainties were enough to provide support with West Texas Intermediate crude oil up by 1.37 per cent at US$87.99 per barrel.
The TSX Composite Index was stronger, up 213.89 points or 1.08 per cent to close at 19,987.23 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 2.13
Linamar Corp.——————–up $ 1.24 at $ 66.37
Maple Leaf Foods—————–up $ 0.33 at $ 23.49
Nutrien Ltd.———————dn $ 5.69 at $118.11
Ritchie Bros Auctioneers Inc.—-dn $ 0.39 at $ 88.84
Farmers Edge Inc.—————-up $ 0.06 at $ 0.60
(All figures are in Canadian dollars.)
