By Commodity News Service Canada
WINNIPEG, August 23 – The Canadian dollar ended slightly higher against its US counterpart on Wednesday. The rise was viewed as a correction after the loonie sunk in overnight trading following a threat by US President Trump to scuttle the North American Free Trade Agreement.
CIBC issued a note today saying it expects the Canadian dollar to hover in the C$1.28 to C$1.33 range versus its US counterpart for most of this year.
Canadian bonds put in a solid showing as investors sought safe havens following Trump’s comment on NAFTA.
The Canadian dollar ended Wednesday at US$0.7959 cents or C$1.2564, compared to Tuesday’s close of US$0.7967 or C$1.2552.
In Toronto, the S&P/TSX Composite Index advanced by 78.20 points, or 0.52% to 15,063.16.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.16 at $ 23.90
Agrium Incorporated———-dn $ 0.12 at $121.19
Buhler Industries————up $ 0.01 at $ 4.19
Maple Leaf Foods————-dn $ 0.18 at $ 34.89
Potash Corp. of Sask———– $ 0.00 at $ 21.59
(All figures are in Canadian dollars.)
