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Canadian Financial Close: Loonie follows crude oil in losing ground

By Commodity News Service Canada

WINNIPEG, Feb. 4 (CNS Canada) – The Canadian dollar was down at market close Monday as oil prices declined.
The dollar finished the day at US$0.7618 or US$1=C$1.3127, which compares with Friday’s close of US$0.7637 or C$1.3095.
The S&P/TSX Composite Index closed Monday after gaining 96.01 points to finish at 15,602.32 points.
Oil prices were down on Monday as West Texas Intermediate crude oil lost 51 cents to close at US$54.75 per barrel. Brent crude oil slipped five cents to close at US$62.70 per barrel.

Pushing Monday’s the decline in oil prices were growing concerns of a slowing global economy, but this was tempered by support from OPEC production cuts and the coming U.S. sanctions against Venezuela, of which both will tighten up supplies.
Gold was down by US$5.30 on Monday to US$1,316.80 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients up $ 0.39 at $ 16.69
Buhler Industries unchanged at $ 3.61
Linamar Corp. dn $ 0.16 at $ 50.52
Maple Leaf Foods up $ 0.21 at $ 29.84
Nutrien Ltd. dn $ 0.05 at $ 68.25
Ritchie Bros Auctioneers Inc. up $ 0.45 at $ 47.72
Rocky Mountain Dealerships Inc. up $ 0.22 at $ 9.03

(All figures are in Canadian dollars.)

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