Canadian Financial Close: C$ weakens ahead of CDN Budget

By Commodity News Service Canada

WINNIPEG, March 21 – The Canadian dollar fell lower against its US counterpart on Monday, as investors positioned themselves ahead of the Federal Budget. Most economists expect the government to announce a C$30 billion deficit. However, that is not expected to impact the dollar significantly.

The Canadian dollar closed at US$0.7642 or US$1 = 1.3085 on Monday. That compares to Friday when the loonie closed at US$0.7670 or US$1 = 1.3037.

The Standard & Poor’s/TSX Composite Index advanced on Monday as stronger energy stocks pulled the market higher. Crude oil prices jumped 1.2 percent.

The S&P/TSX Composite Index rose 64.02 points, or 0.47%, to 13,561.09.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 1.40 at $ 37.65
Agrium Incorporated———-up $ 0.44 at $120.58
Buhler Industries————– $ 0.00 at $ 4.86
Maple Leaf Foods————-up $ 0.06 at $ 27.06
Potash Corp. of Sask———up $ 0.11 at $ 24.77

(All figures are in Canadian dollars.)