By Commodity News Service Canada
WINNIPEG, August 4 – The Canadian dollar hit its lowest
point in two weeks, relative to its US counterpart, as a strong
US jobs report drew investors to the American greenback.
Analysts say the loonie is likely headed for a move back
into a range near 78.75 US cents.
Canadian bonds fell as investors shied away from fixed
assets in the wake of the US jobs report. The 10-year bond yield
was at 1.918% from 1.896%.
The Canadian dollar ended Friday at US$0.7912 cents or
C$1.2638, compared to Thursday’s close of US$0.7950 or C$1.2578.
Canadian stocks recorded gains to end the week. Advances in
the energy sector provided the path of least resistance.
It was a solid showing for the oil and gas sector as Encana
and Cenovos both rose 4% on the day.
In Toronto, the S&P/TSX Composite Index rose 66.01 points,
or 0.4%, to 15,257.97.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.79 at $ 23.99
Agrium Incorporated———-up $ 0.95 at $127.70
Buhler Industries————– $ 0.00 at $ 4.16
Maple Leaf Foods————-dn $ 0.01 at $ 34.61
Potash Corp. of Sask———up $ 0.22 at $ 22.83
(All figures are in Canadian dollars.)
