By Commodity News Service Canada
WINNIPEG, May 4 – The Canadian dollar finished lower
against its US counterpart on Thursday, as a speech from Bank of
Canada Governor Stephen Poloz failed to stem the bearish
sentiment surrounding the loonie.
Losses in crude oil prices and gold bullion contributed to
the declines.
CIBC has told investors it expects the loonie to appreciate
towards the end of 2017.
The Canadian dollar closed at US$0.7276 or C$1.3743,
compared to Wednesday’s close of US$0.7292 or C$1.3714.
The S&P/TSX Composite Index dropped on Thursday, tracking
losses in mining and energy.
Recent declines in Chinese metals weighed on Canada’s
commodity sector, according to a report.
The oil patch also suffered losses with Encana reporting a
fallback of 3.8%.
The index dropped by 146.44 points, or 0.9%, to 15,396.70.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.05 at $ 31.48
Agrium Incorporated———-up $ 0.17 at $124.37
Buhler Industries————up $ 0.15 at $ 4.65
Maple Leaf Foods————-up $ 0.01 at $ 34.19
Potash Corp. of Sask———– $ 0.00 at $ 22.35
(All figures are in Canadian dollars.)
