WINNIPEG, Feb. 1 (MarketsFarm) – The Canadian dollar was weaker on Monday in the face of an improving U.S. greenback amidst higher oil prices.
The loonie finished at US$0.7798 or US$1=C$1.2824, compared to Friday’s close of US$0.7825 or US$1=C$1.2780.
Benchmark crude oil prices were higher on Monday on speculation oil production would curb in the first quarter.
Brent crude oil went up at US$56.48 per barrel. West Texas Intermediate (WTI) crude oil jumped at US$53.67/barrel. Western Canadian Select (WCS) crude oil increased at US$40.99/barrel.
The TSX Composite Index moved higher by 355.43 points on Monday to finish at 17,692.45.
Gold strengthened as it rose US$13.40 at US$1,863.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.13 at $ 2.79
Linamar Corp. up $ 1.67 at $ 66.95
Maple Leaf Foods up $ 0.36 at $ 25.35
Nutrien Ltd. up $ 0.99 at $ 63.97
Ritchie Bros Auctioneers Inc. up $ 2.43 at $ 77.94
(All figures are in Canadian dollars.)
