Canadian Financial Close: Weaker Oil Pressures Canada’s Finances

By Commodity News Service Canada

WINNIPEG, December 30 – The Canadian dollar fell lower against its US counterpart Wednesday, tracking losses in crude oil. Saudi Arabia repeated its pledge to keep its oil production high while US inventory data pointed towards increases in American stockpiles of crude.

The Canadian dollar closed at US$0.7202 or US$1 = C$1.3885.

The TSX ticked lower Wednesday as large amounts of crude oil in the US weighed down the energy sector.

The S&P/TSX Composite Index lost 103.34 points, or 0.78%, to 13,142.41.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.82 at $ 33.74
Agrium Incorporated———-dn $ 0.98 at $125.38
Buhler Industries————– $ 0.00 at $ 5.44
Maple Leaf Foods————-dn $ 0.02 at $ 23.94
Potash Corp. of Sask———dn $ 0.28 at $ 24.22

(All figures are in Canadian dollars.)