Canadian Financial Close: Loonie catches up with greenback

WINNIPEG, March 8 (MarketsFarm) – The Canadian dollar remained steady against the United States dollar on Monday despite the latter reaching a three-month high due to a continuing increase in U.S. Treasury bond yields.

The loonie finished at US$0.7899 or US$1=C$1.2660, compared to Thursday’s close of US$0.7894 or US$1=C$1.2668. On the U.S. Dollar Index, the greenback increased by 0.44 at 92.420 points.

After jumping this morning, benchmark crude oil prices eventually settled lower at the end of the day as worries eased over a drone attack by Yemeni rebels at the Ras Tamura crude oil terminal in Saudi Arabia, which suffered no damage.

Brent crude oil dropped by US$1.36 per barrel at US$67.99. West Texas Intermediate (WTI) crude oil fell US$1.36 at US$64.73/barrel. Western Canadian Select (WCS) crude oil lost US$1.35 to US$53.59/barrel.

The TSX Composite Index rose on Monday, increasing by 76.82 points at 18,457.78.

Gold tumbled by US$19.31 at US$1,681.31 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.40
Linamar Corp. up $ 2.77 at $ 75.12
Maple Leaf Foods dn $ 0.14 at $ 25.73
Nutrien Ltd. up $ 1.31 at $ 70.34
Ritchie Bros Auctioneers Inc. dn $ 2.16 at $ 66.59

(All figures are in Canadian dollars.)

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