By Commodity News Service Canada
Aug. 15 (CNS Canada) — The Canadian dollar continues to struggle against a steadily strengthening American greenback, which is being supported by hawkish monetary policies. U.S. tariffs on Canadian steel, aluminum and softwood lumber may also be weighing down the loonie.
The Canadian/US exchange rate was at 0.7623 at 8:46 a.m. CDT, or C$1.312. Yesterday’s close was US$0.7641 or C$1.3087.
The owner of Corona beer, Constellation Brands Inc., plans to spend C$5 billion to increase its shares in cannabis grower Canopy Growth Corp. The investment would give Constellation a 38 per cent stake in the Canadian cannabis company. Meanwhile, Canadian stocks in cannabis companies fell yesterday after Ontario announced it was delaying plans to introduce cannabis stores until 2019.
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Canadian Financial Close: Loonie up, TSX surges
Glacier FarmMedia – The Canadian dollar strengthened slightly coming out of the August long weekend. The loonie closed at US$0.7254 or…
The S&P/TSX was trading down 0.71 per cent at 8:39 a.m. CDT, sitting at 16,214.88, down 115.79 points. Over the last five days, the TSX has gained 0.27 per cent.
In U.S. early trading this morning, the Dow Jones was up 0.45 per cent at 25,299.92, the S&P 500 climbed 0.64 per cent to 2,839.96, and the Nasdaq gained 0.65 per cent to 7,870.89.
