By Commodity News Service Canada
WINNIPEG, Dec. 29 – The Canadian dollar closed the year
higher on Friday, supported by rising oil and gold prices.
The Canadian dollar settled Friday at US$0.7971 or
C$1.2545, compared to Thursday’s North American close of
US$0.7944 or C$ 1.2588.
Gold extended its rally Friday to hit a three-month high,
making for the largest one-year rise in seven years as a wilting
American dollar, political tensions and receding concerns over
the impact of American interest rate hikes fed into its rally.
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US$1,309.30 per once, finishing the year 12 per cent higher.
Oil prices rose above US$60 per barrel on the final trading
day of the year, touching their highest point since mid-2015, as
an unexpected fall in American output and a decline in
commercial crude inventories stoked buying in generally thin
trading. Brent crude futures rose 41 cents to US$66.57 per
barrel Friday. Brent crude US$67 mark this week for the first
time since May, 2015.
In Toronto, the S&P/TSX Composite Index dropped Friday by
12.82, or 0.08 per cent, to 16,209.13.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–unchanged at $ 20.09
Agrium Incorporated———-up $ 1.00 at $145.10
Buhler Industries————dn $ 0.25 at $ 4.35
Maple Leaf Foods————-up $ 0.13 at $ 35.81
(All figures are in Canadian dollars.)
