Canadian Financial Close: C$ Rises With Positive Data

By Commodity News Service Canada

WINNIPEG, March 1 – The Canadian dollar finished higher against its US counterpart Tuesday, taking support from positive Canadian and US economic data. New figures show Canada’s GDP grew 1.2 percent in 2015.

The loonie also took strength from a report indicating Russia may be close to a deal with OPEC over oil production.

The Canadian dollar closed at US$0.7455 or US$1 = 1.3414 which compared with Monday’s close of US$0.7390 or US$1 = C$1.3531.

The Standard & Poor’s/TSX Composite Index chalked up gains on Tuesday, fueled by advances in crude oil and heavy Chinese investments. The energy sector enjoyed a 2% bump.

The S&P/TSX Composite Index rose 121.75 points, or 0.95%, to 12,982.10.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.03 at $ 36.68
Agrium Incorporated———-up $ 1.53 at $118.04
Buhler Industries————– $ 0.00 at $ 5.03
Maple Leaf Foods————-up $ 1.84 at $ 24.65
Potash Corp. of Sask———up $ 0.25 at $ 23.18

(All figures are in Canadian dollars.)