By Commodity News Service Canada
WINNIPEG, February 24 – The Canadian dollar finished relatively unchanged, compared to its US counterpart, as Canada’s monthly inflation rate hit 2.1%.
While some analysts theorize the inflation rate could spark movement from the Bank of Canada in regards to the country’s interest rate, many expect the BoC to show a muted response.
The Canadian dollar closed at C$0.7628 or US$1=C$1.3109, compared to Thursday’s close of C$0.7625 or US$1=C$1.3114.
The S&P/TSX Composite Index fell off the proverbial cliff on Friday, as the plummeting energy sector pointed the way lower. The TSX energy group lost a staggering 3.2% on the day in response to weaker oil prices.
The damage spread to the metals sector too, with nickel and zinc prices finishing lower.
The index fell 247.73 points or 1.6% to 15,533.47.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.07 at $ 32.96
Agrium Incorporated———-dn $ 1.55 at $130.24
Buhler Industries————up $ 0.19 at $ 4.80
Maple Leaf Foods————-dn $ 0.56 at $ 30.94
Potash Corp. of Sask———dn $ 0.28 at $ 23.41
(All figures are in Canadian dollars.)
