By Commodity News Service Canada
WINNIPEG, Sept. 26 – The Canadian dollar gained versus its
U.S. counterpart today, as investors took up positions before an
expected Bank of Canada speech tomorrow. BoC Chair Stephen Poloz
is expected to delay any further interest rate hikes to avoid
overheating the economy too quickly. The dollar closed today at
US$0.8084 or C$1.2370 per US$1. It closed Monday at US$0.8103 or
C$1.2341 per US$1.
Oil prices ended today lower after investors sold off to
capture highs spurred by a rally on Monday in which prices hit
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Tayyip Erdogan’s threat to cut off oil exports to Kurdish areas
of Iraq, a continued emphasis by OPEC nations to reduce output
and U.S. oil inventory reports expecting to show growth. Today’s
activity saw WTI crude slip by 34 cents (0.7%) to settle at
US$51.88 per barrel. Brent crude oil fell 58 cents (1%) to
US$58.44 per barrel.
The S&P/TSX lost 42.11 (0.27%) to close at 15,474.12. The
health care (-0.86%) and materials (-0.96%)sectors posted the
biggest losses, while industrial stocks and utilities offset
some of the declines.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.45 at $ 24.71
Agrium Incorporated———-dn $ 0.85 at $132.81
Buhler Industries————– $ 0.00 at $ 4.45
Maple Leaf Foods————-up $ 0.11 at $ 33.63
(All figures are in Canadian dollars.)
