By Commodity News Service Canada
WINNIPEG, March 7 – The Canadian dollar rose at close
Wednesday on news Canada could be possibly exempt from the
United States proposed steel and aluminum tariffs.
The Canadian dollar settled Wednesday at US$0.7753 or
C$1.2898, compared to Tuesday’s North American close of
US$0.7724 or C$1.2947.
Canada and Mexico could get a special exemption from U.S.
President Donald Trump’s proposed tariffs on steel and aluminum.
White House Spokeswoman Sarah Sanders said there could be
Oil prices tumbled Wednesday as financial markets slid amid
concerns that Washington’s plans for import tariffs could spark
a trade war. Data released from the U.S. government showed an
increase in crude inventories and output, which also dragged oil
prices down. Brent crude dropped US$1.45 to US$64.34 per barrel.
In Toronto, the TSX/S&P Composite fell Wednesday, as a drop
in commodity prices weighed on resource shares, while steel
producer Stelco Holdings Inc. rallied on prospects for Canada to
be exempted from proposed U.S. metal tariffs. The TSX/S&P closed
down 72.58 points, or 0.47 per cent, to 15,472.61.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.77 at $ 14.90
Buhler Industries————unchanged at $ 4.08
Maple Leaf Foods————-up $ 0.65 at $ 31.81
Nutrien Ltd.—————–dn $ 0.50 at $ 65.84
(All figures are in Canadian dollars.)