Canadian Financial Close: C$ Weakens

By Commodity News Service Canada

WINNIPEG, Aug. 31 (CNS Canada) – The Canadian dollar was weaker on Wednesday, as soft domestic gross domestic product data weighed on the currency.

The Canadian dollar closed at US$0.7624 or US$1=C$1.3116, which compares with Tuesday’s close of US$0.7636, or US$1=C$1.3096.

Canada’s gross domestic product contracted at an annualized rate of 1.6 per cent in the second quarter, according to a report from Statistics Canada. The decline was the largest since 2009, with the wildfires in Alberta and resulting slowdown in the energy sector cited as the major factor.

The S&P/TSX Composite Index was weaker on Wednesday, declining 86.90 points, or 0.59%, to close at 14,597.95.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–up $ 0.09 at $ 36.07
Agrium Incorporated———-up $ 1.27 at $126.36
Buhler Industries———— $ 0.00 at $ 4.76
Maple Leaf Foods————-up $ 0.57 at $ 29.13
Potash Corp. of Sask———up $ 0.46 at $ 23.76
(All figures are in Canadian dollars.)