By Commodity News Service Canada
WINNIPEG, March 24 – The Canadian dollar suffered modest
losses against its US counterpart on Friday, as Canada’s
inflation rate missed expectations.
The rate advanced at an annualized pace of 2% in February,
which was slightly below analysts’ estimates.
Advances in crude oil, silver and natural gas helped offset
the losses.
The Canadian dollar closed at C$0.7474 or US$1=C$1.3380,
compared to Thursday’s close of C$0.7490 or US$1=C$1.3351.
The S&P/TSX Composite Index rose on Friday taking strength
from the consumer discretionary group.
Sleep Country Canada led the charge with a 3.4% jump, while
Gildan Activewear also chalked up gains, advancing 1.6%.
Late in the day, US President Donald Trump gave his
approval of the Keystone XL Pipeline, which helped bolster
Canada’s energy sector.
The index climbed 9.06 points, or 0.1%, to 15,442.67.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.67 at $ 29.97
Agrium Incorporated———-dn $ 0.79 at $126.84
Buhler Industries————– $ 0.00 at $ 4.60
Maple Leaf Foods————-dn $ 0.03 at $ 32.02
Potash Corp. of Sask———dn $ 0.07 at $ 22.75
(All figures are in Canadian dollars.)
