By Commodity News Service Canada
WINNIPEG, June 6 – The Canadian dollar eked out a narrow
gain against its US counterpart on Tuesday, propped up by
stronger oil prices.
Little domestic news has left the commodity-linked currency
dependent on external factors to drive it. Traders are looking
ahead to Friday when Canadian employment data is scheduled to be
released.
The Canadian dollar closed at US$0.7429 or C$1.3461,
compared to Monday’s close of US$0.7417 or C$1.3483.
The S&P/TSX Composite Index strengthened on Tuesday as
gains in gold and oil provided the path of least resistance.
The materials group posted a gain of 3.4%. Kinross led the
charge with an advance of 8.6%.
In the oil patch, Encana chalked up a gain of 1.9% while
Cenovus rose 1.5%.
The index climbed 54.78 points, or 0.4%, to 15,464.56.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.12 at $ 26.07
Agrium Incorporated———-up $ 0.47 at $123.76
Buhler Industries————– $ 0.00 at $ 4.31
Maple Leaf Foods————-up $ 0.21 at $ 35.10
Potash Corp. of Sask———up $ 0.12 at $ 22.15
(All figures are in Canadian dollars.)
