By Commodity News Service Canada
WINNIPEG, May 9 (CNS) – The Canadian dollar chalked up
strong gains against its U.S. counterpart on Wednesday, riding
the wave of higher prices for crude oil.
Strength in copper and natural gas also benefitted the
loonie, while losses in gold were bearish for it.
The advances were capped though by ideas the U.S. Federal
Reserve will raise interest rates two more times in 2018.
The Canadian dollar settled Wednesday at US$0.7785 or
C$1.2693, compared to Tuesday’s North American close of
US$0.7714 or C$1.2693.
Meantime, Canadian government bonds snapped out of their
recent slide, following stocks and oil prices. Yields mixed
around in a narrow range for the early portion of the session
before climbing with the U.S. Treasury Department’s auction of
10-year notes.
The S&P/TSX Composite Index rose 68.10 points, or 0.43%, to
15,910.81.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.17 at $ 16.52
Buhler Industries————– $ 0.00 at $ 4.00
Maple Leaf Foods————-dn $ 0.26 at $ 29.05
Nutrien Ltd.—————–up $ 0.70 at $ 62.37
(All figures are in Canadian dollars.)
