Canadian Financial Close: C$ weakens with oil

By Commodity News Service Canada

WINNIPEG, Sept. 9 (CNS Canada) – The Canadian dollar was weaker on Friday, as sharp losses in crude oil weighed on the energy-linked currency.

The Canadian dollar closed at US$0.7670 or US$1=C$1.3037, which compares with Thursday’s close of US$0.7735, or US$1=C$1.2928.

Broad-based selling in the equity markets also spilled over to put some pressure on the Canadian dollar.

However, relatively favourable employment data did provide some underlying support, according to analysts.

The S&P/TSX Composite Index was weaker on Friday, losing 263.38 points, or 1.78%, to close at 14,539.88.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.36 at $ 36.80
Agrium Incorporated———-dn $ 1.04 at $124.14
Buhler Industries———— $ 0.00 at $ 4.85
Maple Leaf Foods————-dn $ 0.36 at $ 28.89
Potash Corp. of Sask———dn $ 0.63 at $ 22.14
(All figures are in Canadian dollars.)