Canadian Financial Close: C$ rises on strength in metals

By Commodity News Service Canada

WINNIPEG, July 4 – The Canadian dollar finished higher against its American counterpart Monday due to wide-spread strength in commodities.

Gold, silver and iron all chalked up gains on the day as US markets were closed for Independence Day.

The Canadian dollar closed at US$0.7778 or US$1=C$1.2856, which compares with Thursday’s close of US$0.7742, or US$1=C$1.2917.

The TSX benefited from ideas that central banks will reduce interest rates in the near future.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.20 at $ 35.69
Agrium Incorporated———-up $ 0.35 at $117.24
Buhler Industries————dn $ 0.15 at $ 4.85
Maple Leaf Foods————-up $ 0.19 at $ 27.78
Potash Corp. of Sask———up $ 0.80 at $ 21.80

(All figures are in Canadian dollars.)