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Canadian Financial Close: Loonie moves up amid good news

WINNIPEG, March 1 (MarketsFarm) – The Canadian dollar saw an increase today as bond yields jumped, a new COVID-19 vaccine may be authorized in weeks, and a Statistics Canada report showed that Canada’s account deficit was C$7.3 billion in the fourth quarter of 2020, compared to C$10.5 billion in the third quarter.

The loonie finished at US$0.7898 or US$1=C$1.2661, compared to Friday’s close of US$0.7883 or US$1=C$1.2686. On the U.S. Dollar Index, the greenback inched upward by 0.16 at 91.040 points.

Benchmark crude oil prices slightly decreased on Monday under speculation Chinese crude oil consumption is slowing down.

Brent crude oil fell by US$0.98 at US$63.44 per barrel. West Texas Intermediate (WTI) crude oil stumbled by US$1.07 at US$60.43/barrel. Western Canadian Select (WCS) crude oil dropped by US$1.78 at US$48.90/barrel.

The TSX Composite Index jumped on Monday, moving up by 239.36 to close at 18,299.62.

Gold fell by US$7.36 at US$1,726.68 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.06
Linamar Corp. up $ 2.93 at $ 74.04
Maple Leaf Foods dn $ 0.25 at $ 26.13
Nutrien Ltd. up $ 1.71 at $ 70.40
Ritchie Bros Auctioneers Inc. dn $ 0.62 at $ 68.83

(All figures are in Canadian dollars.)

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