WINNIPEG – The Canadian dollar dropped on Monday as did crude oil prices.
The loonie closed at US$0.7838 or US$1=C$1.2758, down from Friday’s close of US$0.7873 or US$1=C$1.2702. The Canadian dollar’s value against the United States greenback is at its lowest level since March 15.
The U.S. Dollar Index was up 0.51 of a point at 101.73, marking five straight days the index was above 100 points.
Crude oil prices regained some of their losses later in the day, but still closed Monday in the red. COVID-19 lockdowns in China continue to bring pressure onto crude oil prices. Brent crude oil lost US$4.05 per barrel at US$102.60. West Texas Intermediate (WTI) crude oil declined US$3.18 at US$98.89/barrel. Western Canadian Select (WCS) retreated US$2.56 to US$86.62.
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The COVID-19 situation in China is keeping the TSX/S&P Composite Index down as it dropped 174.49 points at 21,011.89.
Gold fell US$35.40 per ounce to US$1,898.90.
Canada’s agricultural sector fared as follows:
Buhler Ind. unchanged at $ 2.55
Farmer’s Edge Inc. dn $ 0.03 at $ 2.77
Linamar Corp. dn $ 0.96 at $ 49.43
Maple Leaf Foods up $ 0.32 at $ 28.20
Nutrien Ltd. dn $ 5.36 at $126.71
Ritchie Bros Auctioneers Inc. up $ 1.33 at $ 71.84
(All figures are in Canadian dollars.)
