Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Aug. 23 (MarketsFarm) – The Canadian dollar gained more than a cent on Monday, on sharp upticks in crude oil prices while its United States counterpart lost ground.
The loonie closed at US$0.7885 or US$1=C$1.2682, compared to Friday’s close of US$0.7778 or US$1=C$1.2856.
On the U.S. Dollar Index, the greenback stepped back 0.503 at 93.005 points.
Benchmark crude oil prices were higher on Monday, benefitting from that weaker U.S. dollar.
Brent crude oil jumped US$3.35 at US$68.53 per barrel. West Texas Intermediate (WTI) crude oil climbed US$3.28 at US$65.42 per barrel. Western Canadian Select (WCS) vaulted US$3.53 at US$52.60 per barrel.
The TSX Composite Index finished higher by 130.51 points on Monday to finish at 20,469.53.
Gold jumped US$22.90 at US$1,806.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.19
Farmers Edge Inc. up $ 0.08 at $ 5.21
Linamar Corp. up $ 0.25 at $ 69.38
Maple Leaf Foods dn $ 0.13 at $ 27.25
Nutrien Ltd. up $ 0.23 at $ 76.33
Ritchie Bros Auctioneers Inc. dn $ 0.87 at $ 78.22
(All figures are in Canadian dollars.)
