By Commodity News Service Canada
WINNIPEG, October 31 – The Canadian dollar suffered losses
against its US counterpart on Tuesday. The loonie was pressured
by losses in gold bullion, natural gas and indications the
Canadian economy is shrinking.
Canada’s gross domestic product declined 0.1% in August,
the first monthly setback since the fall of 2016. Weakness in
the manufacturing sector and energy production were the key
factors behind the drop.
On top of that, the country’s industrial product price
index fell 0.3% in September. The index is the measuring stick
for prices paid to manufacturers once their goods leave the
production plant.
The Canadian dollar settled on Tuesday at US$0.7756 cents
or C$1.2893, compared to Monday’s North American close of
US$0.7790 or C$1.2837.
In Toronto, the S&P/TSX Composite Index rose 22.81 points,
or 0.14% to 16,025.59.
Gains in energy stocks and healthcare helped keep the TSX
above the 16,000 mark.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.61 at $ 23.13
Agrium Incorporated———-up $ 1.56 at $140.45
Buhler Industries————up $ 0.10 at $ 4.50
Maple Leaf Foods————-up $ 0.05 at $ 33.46
Potash Corp. of Sask———up $ 0.34 at $ 25.11
(All figures are in Canadian dollars.)
