Canadian Financial Close: TSX/C$ fall in wake of FOMC minutes

By Commodity News Service Canada

WINNIPEG, May 18 – The Canadian dollar ended lower against
its US counterpart on Wednesday, in the wake of the release of
minutes from the Federal Open Market Committee meeting. The
papers show that US federal officials believe a rate hike is
inevitable if economic conditions keep improving.
The Canadian dollar closed at US$0.7679 or US$1=C$1.3023,
which compares with Wednesday’s close of US$0.7750, or
US$1=C$1.2903.
The Standard & Poor’s/TSX Composite Index trended lower
Wednesday, led by losses in metal issues and the energy sector.
The prospect of lower interest rates spurred higher action
in the US dollar which weighed on the market. Materials bore the
brunt of the losses shedding 5.8% on the day.
The S&P/TSX Composite index fell 91.09 points, or 0.65%, to
13,826.01.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 1.28 at $ 36.46
Agrium Incorporated———-dn $ 1.29 at $114.89
Buhler Industries————– $ 0.00 at $ 4.90
Maple Leaf Foods————-dn $ 0.37 at $ 29.32
Potash Corp. of Sask———dn $ 0.47 at $ 20.90

(All figures are in Canadian dollars.)