Canadian Financial Close: C$ Continues Lower

By Commodity News Service Canada

WINNIPEG, Aug. 30 (CNS Canada) – The Canadian dollar was weaker on Tuesday, as continued weakness in crude oil weighed on prices.

The Canadian dollar closed at US$0.7636 or US$1=C$1.3096, which compares with Monday’s close of US$0.7679, or US$1=C$1.3022.

Soft domestic economic data also weighed on the Canadian dollar. The country’s current account deficit widened to a record C$19.9 billion in the second quarter, according to Statistics Canada data.

Gains in the US dollar index internationally contributed to the relative weakness in the Canadian currency.

The S&P/TSX Composite Index held near unchanged on Tuesday, recovering from earlier to declines to settle up 2.88 points, or 0.02%, to close at 14,684.85.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.02 at $ 35.98
Agrium Incorporated———-up $ 8.56 at $125.09
Buhler Industries———— $ 0.00 at $ 4.76
Maple Leaf Foods————-dn $ 0.21 at $ 28.56
Potash Corp. of Sask———up $ 2.40 at $ 23.30
(All figures are in Canadian dollars.)