By Commodity News Service Canada
WINNIPEG, December 30 – The Canadian dollar continued to
advance against its US counterpart Friday. The American
greenback showed broad-based weakness against most G-10
currencies such as the Euro.
However, Scotiabank expects the loonie to decline in the
coming months.
The Canadian dollar closed at C$0.7448 or US$1=C$1.3427,
compared to Thursday’s close of C$0.0.7403 or US$1=C$1.3508.
The S&P/TSX Composite Index finished lower on the last
trading day of the year, likely as a result of portfolio
managers positioning themselves for the start of the next
calendar year.
The materials group spear-headed the drop; falling 2.8%.
The news was not all gloomy though as the TSX recorded a
strong year rising nearly 18%.
The index fell 134.53 points or 0.9% to 15,287.59.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.11 at $ 36.64
Agrium Incorporated———-dn $ 1.36 at $134.96
Buhler Industries————dn $ 0.06 at $ 4.44
Maple Leaf Foods————-dn $ 0.17 at $ 28.12
Potash Corp. of Sask———dn $ 0.30 at $ 24.29
(All figures are in Canadian dollars.)
