By MarketsFarm
WINNIPEG, April 27 (MarketsFarm) – The Canadian dollar was slightly higher on Monday as the United States dollar lost strength.
The dollar finished the day at US$0.7116 or US$1=C$1.4053, compared to Friday when it closed at US$0.7097 or US$1=C$1.4090.
The U.S. dollar index slipped 0.29 of a point to 100.140, which made it weaker compared to other world currencies.
Benchmark crude oil prices were weaker on Monday, due to world demand falling by 30 per cent and global onshore storage having reached 85 per cent capacity last week, according to a report.
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Brent crude oil was down US$1.29 to close at US$20.15 per barrel. West Texas Intermediate (WTI) crude oil lost US$3.93 at US$13.01 per barrel. Western Canadian Select (WCS) lost US$1.77 at US$6.51 per barrel.
The TSX Composite Index was up 221.75 points to close at 14,642.11 as investors reacted positively towards Ontario’s plan to eventually reopen its economy in steps, although Premier Doug Ford didn’t include any specific timeline.
Gold dropped US$14.69 at 1,714.91 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.65
Linamar Corp. dn $ 0.22 at $ 30.30
Maple Leaf Foods dn $ 0.13 at $ 26.34
Nutrien Ltd. up $ 1.09 at $ 49.54
Ritchie Bros Auctioneers Inc. up $ 0.15 at $ 60.65
Rocky Mountain Dealerships Inc. up $ 0.10 at $ 4.25
(All figures are in Canadian dollars.)
