By Commodity News Service Canada
WINNIPEG, January 31 (CNS) – The Canadian dollar
strengthened against its U.S. counterpart Wednesday, following
the release of robust economic data.
Canada’s gross domestic product rose 0.4 per cent in
November, which was the best monthly gain since May. A good
performance by the country’s manufacturing sector was credited
with the rise.
Meantime, Canada’s raw-materials price index fell slightly,
but at a slower pace than expected. Canada’s industrial price
index measures the price Canadian manufacturers receive once
their goods have left the plant.
Gains in crude oil, gold bullion and other metals lent
support to the commodity-backed currency.
The Canadian dollar settled on Wednesday at US$0.8135 cents
or C$1.2293, compared to Tuesday’s North American close of
US$0.8112 or C$1.2328.
The S&P/TSX composite index fell 3.84 points or 0.02
percent to 15,951.67.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.02 at $ 20.86
Buhler Industries————– $ 0.00 at $ 4.33
Maple Leaf Foods————-dn $ 0.22 at $ 34.85
Nutrien Ltd.—————–dn $ 1.02 at $ 64.35
(All figures are in Canadian dollars.)
