By MarketsFarm
WINNIPEG, May 27 (MarketsFarm) – The Canadian dollar was steady at market close on Monday, as crude oil and the TSX made gains.
The dollar finished the day at US$0.7439 or US$1=C$1.3442, which compares Friday’s close of US$0.7437 or C$1.3447.
Benchmark oil prices were up on Monday due to political tensions in the Middle East and OPEC-led supply cuts. However, Kuwait’s oil minister told Reuters there is uncertainty in the market because of the United States/China trade war and increased U.S. shale oil production. Brent crude oil was up US$1.32 to close at US$70.01 per barrel on Monday, while West Texas Intermediate crude oil was up 61 cents to close at US$59.24 per barrel.
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As of May 24, the price differential between WTI and Western Canadian Select crude oil was at US$16.28 per barrel with WCS at US$41.15 per barrel.
The TSX/S&P Composite Index gained 116.02 points on Monday to finish at 16,346.66. Energy and cannabis stocks propelled the increase.
Gold was up 80 cents today to close at US$1,284.40 per ounce.
Markets in the U.S. were closed for Memorial Day.
Canada’s agricultural sector fared as follows:
AGT Food and Ingredients unchanged at $ 17.99
Buhler Industries unchanged at $ 3.61
Linamar Corp. up $ 0.31 at $ 45.37
Maple Leaf Foods dn $ 0.21 at $ 31.70
Nutrien Ltd. up $ 0.27 at $ 64.97
Ritchie Bros Auctioneers Inc. up $ 0.18 at $ 45.60
Rocky Mountain Dealerships Inc. dn $ 0.17 at $ 8.52
(All figures are in Canadian dollars.)
