Canadian Financial Close: C$ climbs with crude oil

By Commodity News Service Canada

WINNIPEG, April 12 (CNS Canada) – The Canadian dollar was stronger on Tuesday, hitting its highest levels in nine months on the back of a rally in crude oil.

The Bank of Canada is set to make its latest interest rate announcement on Wednesday, April 13. While the Bank is generally expected to be holding steady, traders will be following the accompanying statement closely for signs of future moves.

The Canadian dollar closed at US$0.7838 or US$1=C$1.2759, which compares with Monday’s close of US$0.7753, or US$1=C$1.2899.

The TSX ended higher as well, with the rally in crude oil helping underpin the energy sector. The S&P/TSX Composite Index was up 158.66 points, or 1.18%, to close at 13,581.42.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.01 at $ 38.11
Agrium Incorporated———-up $ 0.38 at $113.95
Buhler Industries————– $ 0.00 at $ 4.80
Maple Leaf Foods————-dn $ 0.07 at $ 26.82
Potash Corp. of Sask———up $ 0.15 at $ 20.64
(All figures are in Canadian dollars.)