By Commodity News Service Canada
WINNIPEG, March 3 – The Canadian dollar rose against its US
counterpart to end the week, as the American greenback declined
due to profit-taking.
According to a report from Scotiabank, the loonie could see
more weakness in the next week.
The Canadian dollar closed at C$0.7474 or US$1=C$1.3379,
compared to Thursday’s close of C$0.7463 or US$1=C$1.3399.
The S&P/TSX Composite Index advanced on Friday, taking
strength from gains in mining and banking. The TSX also felt a
boost from the likelihood that the US Federal Reserve will hike
interest rates later this month.
Canadian Natural Resources finished 3.2% higher.
The index climbed 71.85 points or 0.5% to 15,608.50.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.18 at $ 33.60
Agrium Incorporated———-up $ 0.09 at $127.58
Buhler Industries————up $ 0.04 at $ 4.65
Maple Leaf Foods————-up $ 0.19 at $ 31.62
Potash Corp. of Sask———dn $ 0.07 at $ 22.90
(All figures are in Canadian dollars.)
