By Commodity News Service Canada
WINNIPEG, Sept. 6 – The Canadian dollar received a bump following the Bank of Canada’s announcement this morning that it was increasing its benchmark lending rate to 1% from 0.75%. The loonie rose to 82 cents U.S. for the first time since June of 2015 before slipping back down to 81.54 cents U.S. at today’s close (C$1.2264 per US$1.)
It closed yesterday at 80.83 cents U.S. or C$1.2371 per US$1.
The S&P/TSX composite moved lower through the day following the interest rate hike announced by the Bank of Canada with IT (-0.59%), telecommunications (-0.45%)and financials (-0.34%) all taking hits. The index overall fell 30.31 points (-0.20%) to close at 15,059.83.
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WTI crude rose 45 cents U.S today, closing at US$49.11.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.03 at $ 25.23
Agrium Incorporated———-up $ 0.93 at $121.29
Buhler Industries————– $ 0.00 at $ 4.45
Maple Leaf Foods————-dn $ 0.05 at $ 33.93
Potash Corp. of Sask———up $ 0.24 at $ 22.62
(All figures are in Canadian dollars.)
