By Commodity News Service Canada
WINNIPEG, January 21 – The Canadian dollar posted its biggest move upward against the US dollar in recent memory on Thursday. The surge was credited to higher oil prices, a spike in equity markets and short-covering by investors.
The Canadian dollar closed at US$0.7003 or US$1 = C$1.4279.
The TSX rebounded Thursday, advancing strongly alongside higher oil prices. New data from the US government shows a slowdown in the oversupply problem plaguing US inventories.
The S&P/TSX Composite Index rose 192.75 points, or 1.63%, to 12,035.86.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.60 at $ 35.90
Agrium Incorporated———-dn $ 1.83 at $123.52
Buhler Industries————– $ 0.00 at $ 5.00
Maple Leaf Foods————-dn $ 0.02 at $ 22.17
Potash Corp. of Sask———dn $ 0.78 at $ 22.80
(All figures are in Canadian dollars.)
