Canadian Financial Close: Oil, Weak Global Growth Weigh Down C$

By Commodity News Service Canada

WINNIPEG, December 8 – The Canadian dollar fell lower relative to its US counterpart Tuesday as the plunging price of oil continued to create downward pressure on the loonie.

The Canadian dollar closed at US$0.7360 or US$1 = C$1.3587.

The TSX finished lower Tuesday as general uncertainty over the state of the world economy weighed on the market. Despite some encouraging words by Bank of Canada Governor Stephen Poloz over what the situation could mean for Canadian exports, equity managers shied away from the market for the most part.

The S&P/TSX Composite Index lost 120.38 points, or 0.92%, to 12,922.47.

Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.37 at $ 31.53
Agrium Incorporated———-dn $ 1.35 at $130.57
Buhler Industries————– $ 0.00 at $ 5.55
Maple Leaf Foods————-up $ 0.03 at $ 22.04
Potash Corp. of Sask———dn $ 0.69 at $ 24.26
(All figures are in Canadian dollars.)