By Commodity News Service Canada
WINNIPEG, Nov. 2 (CNS Canada) – The Canadian dollar was stronger on Thursday, seeing some recovery off of the three-month lows hit recently. Gains in crude oil provided some support.
The Canadian dollar closed at US$0.7799 or US$1=C$1.2822, which compares with Wednesday’s close of US$0.7761, or US$1=C$1.2885.
U.S. President Donald Trump nominated Jerome Powell to succeed Janet Yellen as the new head of the Federal Reserve when Yellen’s term expires in February. Powell has served as a member of the Fed’s Board of Governors since 2012.
Domestic employment and trade data will be released on Friday.
The S&P/TSX Composite Index was lower on Thursday, backing away from its record highs. The index was down 14.34 points, to close at 16,014.99.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.78 at $ 21.69
Agrium Incorporated———-dn $ 2.19 at $137.70
Buhler Industries———— $ 0.00 at $ 4.50
Maple Leaf Foods————-up $ 0.23 at $ 33.59
Potash Corp. of Sask———dn $ 0.43 at $ 24.86
(All figures are in Canadian dollars.)
