Canadian Financial Close: Loonie hits seven-month low

By Commodity News Service Canada

WINNIPEG, October 21 – The Canadian dollar sunk to its
lowest point against its US counterpart in seven months’ time.
Rising inflation and some lukewarm economic data was behind
Friday’s slump, a report said.
There are ideas the downturn could force the central bank
to back off any potential plans to adjust the interest rate, an
analyst noted.
The Canadian dollar closed at C$0.7504 or US$1.3327,
compared to Thursday’s close of C$0.7563 or US$1=C$1.3122.
The S&P/TSX Composite Index finished higher Friday, as
gains in crude oil offset losses in gold and natural gas.
The index rose by 91.12 points, or 0.61%, to close at
14,939.04.
Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–dn $ 0.27 at $ 38.73
Agrium Incorporated———-up $ 1.95 at $121.21
Buhler Industries————– $ 0.00 at $ 4.45
Maple Leaf Foods————-dn $ 0.10 at $ 30.32
Potash Corp. of Sask———up $ 0.46 at $ 21.89

(All figures are in Canadian dollars.)