By Commodity News Service Canada
WINNIPEG, August 8 (CNS) – The Canadian dollar strengthened
against its U.S. counterpart on Wednesday.
It was a tumultuous day for the loonie though as a
diplomatic row between Canada and Saudi Arabia threatened to
undo years of economic trade.
Saudi Arabia is reportedly preparing to cash in Canadian
stocks, bonds and other assets in retaliation for Canada’s
decision to criticize its record towards women’s rights
activists.
The Canadian currency was buffeted for most of the day
before recovering near the close.
Losses in crude oil futures and gold bullion also weighed
on the loonie.
The loonie finished at US$0.7679 or C$1.3023, compared to
Tuesday’s North American close of US$0.7661 or C$1.3053.
The S&P/TSX Composite Index rose 28.78 points, or 0.18%, to
16,315.08.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.26 at $ 18.31
Buhler Industries————– $ 0.00 at $ 3.62
Maple Leaf Foods————-dn $ 0.09 at $ 31.11
Nutrien Ltd.—————–up $ 0.12 at $ 74.10
Rocky Mountain Dealerships—dn $ 1.07 at $ 10.93
Ritchie Bros. Auctioneers—-up $ 0.37 at $ 45.00
(All figures are in Canadian dollars.)
