Canadian Financial Close: C$ dips with uncertain crude outlook
By Commodity News Service Canada
WINNIPEG, February 16 – The Canadian dollar ended lower against its US counterpart Tuesday due to weak oil prices and an uncertain global economic outlook. Crude oil prices initially rallied today after word broke that Russia and Saudi Arabia might begin to limit their oil output. However, the idea apparently froze after Iran showed no indications it would slash its own production.
The Canadian dollar closed at US$0.7204 or US$1 = C$1.3881.
The Standard & Poor’s/TSX Composite Index finished higher Tuesday, led by gains in base-metal issues and a resurgent equity market.
The S&P/TSX Composite Index advanced 173.74 points, or 1.40%, to 12,554.98.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.63 at $ 36.15
Agrium Incorporated———-up $ 0.91 at $115.28
Buhler Industries————– $ 0.00 at $ 5.03
Maple Leaf Foods————-up $ 0.44 at $ 23.06
Potash Corp. of Sask———up $ 0.37 at $ 21.74
(All figures are in Canadian dollars.)
