By MarketsFarm
WINNIPEG, Dec. 19 (MarketsFarm) – The Canadian dollar was stronger on Monday, seeing a modest recovery off nearby lows start the week amid expectations for increased Chinese demand for oil and other commodities.
The Canadian dollar settled at US$0.7324 or US$1=C$1.3653 on Thursday, which compares with Friday’s close of US$0.7306 or US$1=C$1.3687.
Canada’s Industrial Product Price Index was down by 0.4 per cent in November compared to the previous month but was still up by 9.7 per cent on the year, according to a report from Statistics Canada. The Raw Materials Price Index fell by 0.8 per cent monthly and was up by 8.0 per cent annually.
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Easing COVID-19 restrictions in China and reports that the country was looking to introduce measures to support its economy gave crude oil a boost. West Texas Intermediate was up by 1.9 per cent at US$75.69 per barrel.
The TSX Composite Index was weaker, down 242.52 points or 1.25 per cent to close at 19,200.76 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————- $ 0.00 at $ 1.80
Linamar Corp.——————–dn $ 1.24 at $ 61.70
Maple Leaf Foods—————–up $ 0.13 at $ 23.55
Nutrien Ltd.———————dn $ 1.36 at $ 99.49
Ritchie Bros Auctioneers Inc.—-dn $ 1.02 at $ 74.45
Farmers Edge Inc.—————-dn $ 0.045 at $ 0.25
(All figures are in Canadian dollars.)
