By Commodity News Service Canada
WINNIPEG, September 21 – The Canadian dollar rallied mid-
week following the US Federal Reserve’s decision to leave
interest rates untouched. At this point many analysts believe
the Fed could be setting the stage for a hike in December.
Advances in crude oil and gold added to the upside.
The Canadian dollar closed at US$0.7630 or US$1=C$1.3107,
which compares with Tuesday’s close of US$0.7571, or
US$1=C$1.3209.
The S&P/TSX Composite Index posted sharp advances Wednesday
as investors rushed to gold bullion following the US central
bank’s decision to leave interest rates alone.
A decline in stockpiles of US crude also bolstered several
energy companies’ bottom lines.
The materials group, which includes fertilizer companies,
also finished 4.6 percent higher.
The index gained 188.84 points, or 1.30%, to close at
14,710.82.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.77 at $ 38.19
Agrium Incorporated———-up $ 0.89 at $119.90
Buhler Industries————– $ 0.00 at $ 4.51
Maple Leaf Foods————-up $ 0.30 at $ 29.80
Potash Corp. of Sask———– $ 0.00 at $ 21.10
(All figures are in Canadian dollars.)
