Canadian Financial Close: C$ Sharply Weaker
By Commodity News Service Canada
WINNIPEG, July 5 (CNS Canada) – The Canadian dollar was sharply weaker on Tuesday, as losses in crude oil and the global equity markets weighed on the currency.
The ongoing uncertainty in the global economy following the British referendum on leaving the European Union accounted for much of the weakness in the Canadian currency, according to analysts.
The Canadian dollar closed at US$0.7683 or US$1=C$1.3016, which compares with Monday’s close of US$0.7778, or US$1=C$1.2856.
The TSX ended lower, with losses in crude oil and the rising US dollar behind some of the day’s weakness. The S&P/TSX Composite Index was down 39.34 points, or 0.28%, to close at 14,219.57.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 1.44 at $ 34.25
Agrium Incorporated———-dn $ 1.89 at $115.35
Buhler Industries————– $ 0.00 at $ 4.85
Maple Leaf Foods————-dn $ 0.21 at $ 27.57
Potash Corp. of Sask———dn $ 0.71 at $ 21.09
(All figures are in Canadian dollars.)