By MarketsFarm
WINNIPEG, Sept. 23 (MarketsFarm) – The Canadian dollar was firm at market close on Monday, as 1.7 per cent increase in the wholesale trade was balanced off by a slight dip in Western Canadian Select (WCS) crude oil.
The loonie finished the day at US$0.7536 or US$1=C$1.3270, which compares with Friday’s close of US$0.7533 or C$1.3275.
Statistics Canada reported today that July had a 1.7 per cent increase in wholesale trade from June. That beat forecasts from analysts who predicted a 0.1 per cent decrease. The gain was on the strength of personal and household goods as well as motor vehicle and parts sales.
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Benchmark oil prices were slightly higher on Monday following a report that repairs to Saudi Arabia’s main oil processing facility are to take longer than initially projected.
Brent crude oil was up 19 cents to close at US$64.47 per barrel. West Texas Intermediate (WTI) crude oil was up 39 cents to close at US$58.48 per barrel. However, WCS crude slipped 11 cents at US$45.28 per barrel, failing to fully recover after new reports on Saudi production.
The TSX/S&P Composite Index was down 32.49 as concerns of a possible global economic recession weighed on values. The TSX closed on Monday at 16,867.20 points.
Gold was up US$15.80 on Monday to close at US$1,530.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.06 at $ 3.77
Linamar Corp. dn $ 0.61 at $ 43.17
Nutrien Ltd. dn $ 1.57 at $ 66.90
Ritchie Bros Auctioneers Inc. up $ 0.49 at $ 51.18
Rocky Mountain Dealerships Inc. up $ 0.06 at $ 7.07
(All figures are in Canadian dollars.)
