Canadian Financial Close: C$, TSX Suffer More Losses

By Commodity News Service Canada

WINNIPEG, January 13 – The Canadian dollar dropped to its lowest point in nearly 13 years on the back of tepid oil prices, bearish investor sentiment and global uncertainty. Market-watchers are keenly waiting for new housing data which is scheduled to come out on Thursday.

The Canadian dollar closed at US$0.6971 or US$1 = C$1.4345.

The TSX fell lower Wednesday as all five of Canada’s big banks dropped 2.9% amid growing concerns about the Canadian economy. Energy stocks were also weighed down by excess oil supplies. Encana led the way plummeting 7.2%.

The S&P/TSX Composite Index lost 203.49 points, or 1.64%, to 12,170.41.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.24 at $ 33.86
Agrium Incorporated———-up $ 0.14 at $119.62
Buhler Industries————– $ 0.00 at $ 5.14
Maple Leaf Foods————-up $ 0.04 at $ 23.13
Potash Corp. of Sask———up $ 0.31 at $ 22.52

(All figures are in Canadian dollars.)