By Commodity News Service Canada
WINNIPEG, June 12 – The Canadian dollar strengthened
slightly against its US counterpart on Monday, as ideas grew
that an interest rate hike could be coming.
A note on the Bank of Canada’s website said the economy was
picking up and the BoC pointed to recent national accounts data
which showed growth at 3.7%.
Narrowing rate spreads between US and Canadian bonds helped
make the loonie more attractive, according to a report.
The Canadian dollar closed at US$0.7454 or C$1.3415,
compared to Friday’s close of US$0.7433 or C$1.3453.
The S&P/TSX Composite Index lost ground to start the week
as a global tech selloff spilled over to Canada.
The Toronto Stock Exchange’s information technology’s
sector declined 2%. Blackberry fell by 5%.
Financial stocks also fell 0.6% and Scotiabank finished
0.9% lower.
The index fell 89.41 points, or 0.5%, to 15,383.80.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.69 at $ 25.90
Agrium Incorporated———-dn $ 2.43 at $125.31
Buhler Industries————– $ 0.00 at $ 4.21
Maple Leaf Foods————-dn $ 0.24 at $ 34.03
Potash Corp. of Sask———dn $ 0.38 at $ 22.51
(All figures are in Canadian dollars.)
