By Commodity News Service Canada
WINNIPEG, Dec. 28 – The Canadian dollar strengthened
Thursday to hit a two-month high against its American
counterpart.
The Canadian dollar settled Thursday at US$ 0.7944 or C$
1.2588, compared to Wednesday’s North American close of
US$0.7911 or C$1.2641.
The American dollar hit a one-month low Thursday, due to a
less upbeat United States growth outlook after the passage of
major tax cuts last week. An index which tracks the greenback
against six major currencies slipped nearly half a percent
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Oil prices dipped slightly Thursday but stayed close to
their highest price in two-and-a-half years, as data showed
strong demand for crude imports in China and on increased
refining activity in the United States which drew more crude
from inventories. Brent crude futures fell 11 cents to US$66.33
per barrel.
In Toronto, the S&P/TSX Composite Index rose Thursday by
18.82 points, or 0.12 per cent, to 16,221.95.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.32 at $ 20.09
Agrium Incorporated———-dn $ 1.79 at $144.10
Buhler Industries————unchanged at $ 4.60
Maple Leaf Foods————-dn $ 0.11 at $ 35.65
Potash Corp. of Sask———dn $ 0.25 at $ 25.83
(All figures are in Canadian dollars.)