By MarketsFarm
WINNIPEG, Sept. 21 (MarketsFarm) – The Canadian dollar was weaker on Monday, as the global surge in COVID-19 reported cases and lower crude oil prices weighed on values.
The dollar finished at US$0.7523 or US$=C$1.3293, compared to Friday’s close of US$0.7584 or US$1=C$1.3186.
Conversely, the United States Dollar Index climbed to 93.590 points, in regaining lost strength against major world currencies.
Benchmark crude oil prices were lower on Monday due to waning demand stemming from the pandemic.
Brent crude oil lost US$1.39 at US$41.76 per barrel. West Texas Intermediate (WTI) crude oil fell US$1.48 at US$39.63 per barrel. Meanwhile, Western Canadian Select (WCS) crude was down US$1.29 at US$29.07 per barrel.
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The TSX Composite Index dropped 217.20 points on Monday to finish at 15,981.77. This marked the first the TSX ended the session under 16,000 points since July 24.
Gold plummeted US$37.84 at US$1,913.02 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.46
Linamar Corp. dn $ 1.50 at $ 38.39
Maple Leaf Foods dn $ 0.39 at $ 26.99
Nutrien Ltd. dn $ 1.70 at $ 53.29
Ritchie Bros Auctioneers Inc. dn $ 0.44 at $ 75.83
Rocky Mountain Dealerships Inc. dn $ 0.13 at $ 5.69
(All figures are in Canadian dollars.)
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