Canadian Financial Close: C$ settles steady

By Commodity News Service Canada

WINNIPEG, Aug. 17 (CNS Canada) – The Canadian dollar settled near unchanged on Wednesday, recovering from earlier losses relative to its US counterpart.

The Canadian dollar was weaker in early activity, as it backed away from nearby highs. However, the currency managed to claw back towards unchanged as the release of the US Federal Reserve’s latest meeting minutes highlighted its dovish stance.

The Canadian dollar closed at US$0.7778 or US$1=C$1.2856, which compares with Tuesday’s close of US$0.7780, or US$1=C$1.2953.

The TSX ended lower. The S&P/TSX Composite Index was down 5.84 points, or 0.04%, to close at 14,697.60.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–up $ 0.17 at $ 36.63
Agrium Incorporated———-dn $ 0.03 at $118.37
Buhler Industries————dn $ 0.04 at $ 4.76
Maple Leaf Foods————-up $ 0.28 at $ 28.88
Potash Corp. of Sask———dn $ 0.30 at $ 20.84
(All figures are in Canadian dollars.)