Canadian Financial Close: Canadian dollar slips

By Commodity News Service Canada

WINNIPEG, Sept. 19 – A lackluster domestic manufacturing report dragged on the Canadian dollar but a stronger oil outlook and a falling American greenback offset losses. Canadian manufacturing sales fell 2.6 per cent in July, the steepest decline in more than a year. Oil prices, however, stayed strong overall despite losses today, after top Middle Eastern producers committed to continued production cuts. The Canadian dollar closed at US$0.8145 or C$1.2277 per US$1, compared to Monday’s close of US$0.8171 or C$1.2238 per US$1.

Major North America stock exchanges showed positive moves today, with Toronto’s S&P/TSX, the Dow Jones, the S&P 500 and the Nasdaq all closing higher.

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The S&P/TSX rose its highest in more than a month reflecting investor optimism toward global equities ahead of a U.S. Federal Reserve announcement tomorrow. Energy stocks and financial led the broad-based gains.
The TSX rose 56.3 points (0.37%) to 15,292,97.

WTI crude ended down by day’s end but that figure is down from a seven-week high. It closed 31 cents U.S. lower at US$49.60.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–dn $ 0.47 at $ 26.51
Agrium Incorporated———-dn $ 0.52 at $133.17
Buhler Industries————– $ 0.00 at $ 4.45
Maple Leaf Foods————-dn $ 0.02 at $ 33.88
Potash Corp. of Sask———up $ 0.10 at $ 23.69

(All figures are in Canadian dollars.)