Canadian Financial Close: C$ ends lower

By Commodity News Service Canada

WINNIPEG, April 13 (CNS Canada) – The Canadian dollar was weaker on Wednesday, taking back some of its recent gains as currency traders reacted to the Bank of Canada’s latest monetary policy announcement.

The Bank kept its key overnight rate steady at 0.5%, as had been widely anticipated. The Bank said it remained cautious on the state of the global economy, but raised its projections for domestic growth.

The Canadian dollar closed at US$0.7803 or US$1=C$1.2815, which compares with Tuesday’s close of US$0.7838, or US$1=C$1.2759.

The TSX ended higher, with the Bank of Canada policy news also at the forefront. The S&P/TSX Composite Index was up 89.93 points, or 0.66%, to close at 13,671.35.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–up $ 1.07 at $ 39.18
Agrium Incorporated———-dn $ 0.97 at $112.98
Buhler Industries————– $ 0.00 at $ 4.80
Maple Leaf Foods————-dn $ 0.33 at $ 26.49
Potash Corp. of Sask———up $ 0.74 at $ 21.38
(All figures are in Canadian dollars.)