By Commodity News Service Canada
WINNIPEG, May 15 – The Canadian dollar finished higher
against its US counterpart on Monday. The loonie was pushed
upward by gains in crude oil prices.
Recent comments from Saudi Arabia and Russia that they may
extend production cuts in oil were bullish.
Analysts are now waiting for the release of Canadian retail
sales data later this week.
The Canadian dollar closed at US$0.7331 or C$1.3641,
compared to Friday’s close of US$0.7292 or C$1.3714.
The S&P/TSX Composite Index posted solid gains on the day.
Advances in gold and a strong showing from the Royal Bank
of Canada supported the market.
On the flip side Canadian bonds fell as traders exited safe
havens.
The index jumped by 91.59 points, or 0.59%, to 15,629.47.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.28 at $ 25.59
Agrium Incorporated———-dn $ 0.01 at $124.66
Buhler Industries————– $ 0.00 at $ 4.51
Maple Leaf Foods————-up $ 0.21 at $ 34.00
Potash Corp. of Sask———dn $ 0.01 at $ 22.36
(All figures are in Canadian dollars.)
