By MarketsFarm
WINNIPEG, June 17 (MarketsFarm) – The Canadian dollar was down slightly at Monday’s close, just ahead of monetary policy announcements from the United States Federal Reserve, the Bank of England, and the Bank of Japan.
The Canadian dollar closed at US$0.7459 or US$1=C$1.3407, up from Thursday’s close of US$0.7471 or US$1=C$1.3385.
Stock indexes posted modest gains, continuing a two-week trend. Some experts were concerned the stock market may be in the middle of a bubble, with a burst on the horizon.
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“With economic growth slowing, people are scrambling for any growth they can find,” explained Peter Bookvar, group chief investment officer of Bleakley Advisory Group, to Yahoo Finance.
The S&P/TSX Composite Index gained 2.62 points to close at 2,899.59. The NASDAQ gained 48.36 at 7,845.02 points. Similarly, the Dow Jones gained 22.92 points to close at 26,112.53.
Oil futures slid 1.1 per cent as the Organization of the Petroleum Exporting Countries and its allies delayed a meeting to discuss supply cuts. West Texas Intermediate dropped 50 cents to end the day at US$51.98 per barrel, and Brent Crude oil lost 96 cents to hit US$61.04 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries————–up $ 0.18 at $ 3.85
Linamar Corp ——————up $ 0.40 at $ 45.80
Maple Leaf Foods—————dn $ 0.07 at $ 31.12
Nutrien Ltd. ——————up $ 0.37 at $ 71.79
Rocky Mountain Dealership Inc.-dn $ 0.23 at $ 8.15
(All figures are in Canadian dollars.)
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