By Commodity News Service Canada
WINNIPEG, March 6 (CNS Canada) – The Canadian dollar settled near unchanged on Monday, as the currency saw some consolidation to start the week after posting large losses recently.
The Canadian dollar closed at US$0.7460 or US$1=C$1.3404, which compares with Friday’s close of US$0.7459, or US$1=C$1.3405.
The recent weakness in the Canadian dollar was tied to expectations for increasing US interest rates, said analysts.
Crude oil was slightly softer on Monday, which put some pressure on the energy-linked currency.
The S&P/TSX Composite Index was stronger on Monday, gaining 21.25 points, or 0.1%, to close at 15,629.75.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.87 at $ 32.73
Agrium Incorporated———-dn $ 0.39 at $127.19
Buhler Industries———— $ 0.00 at $ 4.65
Maple Leaf Foods————-dn $ 0.22 at $ 31.40
Potash Corp. of Sask———dn $ 0.08 at $ 22.82
(All figures are in Canadian dollars.)
