By Commodity News Service Canada
WINNIPEG, Feb. 7 – The Canadian dollar closed lower
Wednesday, weighed down by the stock market and price of oil.
The Canadian dollar settled Wednesday at US$0.7971 or
C$1.2546, compared to Tuesday’s North American close of at
US$0.7981 or C$1.2530.
Oil prices hit a one-month low Wednesday after United
States data showed an increase in inventories and record high
crude production. This raised worries the market could be in for
more selling and exposed speculators who have betted on big
upward momentum in crude. Brent crude dropped US$1.44 to
US$65.40 per barrel.
In Toronto, the TSX/S&P Composite Index closed lower
Wednesday dragged down by lower oil and metals prices weighing
on energy companies and miners. The TSX/S&P fell 33.35 points,
or 0.2 per cent, to 15,330.58.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.30 at $ 20.84
Buhler Industries————unchanged at $ 4.15
Maple Leaf Foods————-up $ 0.18 at $ 34.15
Nutrien Ltd.—————–up $ 0.18 at $ 58.85
(All figures are in Canadian dollars.)
