Canadian Financial Close: TSX chops around in sideways trade


By Commodity News Service Canada

WINNIPEG, January 10 – The Canadian dollar ended relatively

flat, compared to its US counterpart on Tuesday, as the loonie

remained confined to sideways trading.

Analysts say the next report from the Bank of Canada will

be a crucial test for the dollar, as any signs of a dovish tone

will likely drag it lower.

The next meeting of the BoC is scheduled on January 18.

The Canadian dollar closed at C$0.7560 or US$1=C$1.3227,

compared to Monday’s close of C$0.0.7559 or US$1=C$1.3230.

The S&P/TSX Composite Index advanced on Tuesday taking

strength from gains in health-care and mining.

Lundin mining was at the forefront of the charge, rising

9%. First Quantum Copper also realized gains of 10.1% on the

back of higher copper prices.

The index climbed 37.33 points or 0.2% to 15,426.28.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.18 at $ 35.38

Agrium Incorporated———-up $ 0.44 at $135.94

Buhler Industries————up $ 0.25 at $ 4.70

Maple Leaf Foods————-dn $ 0.17 at $ 27.72

Potash Corp. of Sask———up $ 0.13 at $ 24.61

(All figures are in Canadian dollars.)