Canadian Financial Close: C$ drops another cent

By Commodity News Service Canada

WINNIPEG, May 4 – The Canadian dollar continued to drop against its US counterpart on Wednesday.

The loonie plunged on the heels of a domestic merchandise trade report that saw the deficit jumping to C$3.4 billion from a revised C$2.5 billion in the previous month.

The Canadian dollar closed at US$0.7770 or US$1=C$1.2870, which compares with Tuesday’s close of US$0.7866, or US$1=C$1.2713.

The Standard & Poor’s/TSX Composite Index fell Wednesday, weighed down by losses in several commodities as well as market uncertainty.

Gold declined which was bearish for the market.

The S&P/TSX Composite Index lost 75.68 points, or 0.55%, to 13,632.00.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.02 at $ 39.62
Agrium Incorporated———-up $ 3.04 at $110.91
Buhler Industries————– $ 0.00 at $ 4.81
Maple Leaf Foods————-up $ 1.79 at $ 28.03
Potash Corp. of Sask———dn $ 0.04 at $ 21.43

(All figures are in Canadian dollars.)