By Commodity News Service Canada
WINNIPEG, November 30 (CNS) – The Canadian currency lost
more ground against the U.S. dollar on Thursday, pressured by
volatility in the oil sector and weak domestic data.
The loonie was undermined by a widening in Canada’s current
account deficit. The drop was attributed to losses in
merchandise trade. The current account is the broadest indicator
of trade in goods and services, and covers items such as
employee wages and investment income.
Losses in natural gas and gold bullion added to the
downside.
The Organization of Petroleum Exporting Countries has
agreed to extend oil production cuts through the 2018 calendar
year.
The Canadian dollar settled on Thursday at US$0.7759 cents
or C$1.2888, compared to Wednesday’s North American close of
US$0.7780 or C$1.2853.
In Toronto, the S&P/TSX Composite Index rose 99.76 points,
or 0.62%, to 16,067.48.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.65 at $ 20.12
Agrium Incorporated———-up $ 2.13 at $141.76
Buhler Industries————– $ 0.00 at $ 4.59
Maple Leaf Foods————-up $ 0.86 at $ 34.85
Potash Corp. of Sask———up $ 0.24 at $ 25.32
(All figures are in Canadian dollars.)
