By Commodity News Service Canada
WINNIPEG, June 7 (CNS Canada) – The Canadian dollar was weaker on Wednesday, as losses in crude oil weighed on the energy-linked currency.
The Canadian dollar closed at US$0.7412 or US$1=C$1.3492, which compares with Tuesday’s close of US$0.7429, or US$1=C$1.3461.
Oil prices dropped sharply as the US Department of Energy weekly report showed larger than expected crude oil inventories in the country.
The United Kingdom election on Thursday will be followed closely by currency traders, with the testimony of former FBI director James Comey in the US also anticipated.
The S&P/TSX Composite Index was lower on Wednesday, losing 92.42 points, or 0.6%, to close at 15,372.14.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients—–dn $ 0.43 at $ 25.64
Agrium Incorporated———-dn $ 0.99 at $124.77
Buhler Industries————dn $ 0.10 at $ 4.21
Maple Leaf Foods————-dn $ 0.16 at $ 34.94
Potash Corp. of Sask———dn $ 0.21 at $ 21.94
(All figures are in Canadian dollars.)
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