By Commodity News Service Canada
WINNIPEG, July 23 (CNS) – The Canadian dollar softened
against its U.S. counterpart on Monday, in narrow, range-bound
trade.
Declines in crude oil prices, gold bullion and natural gas
outweighed some of the recent gains in retail sales.
The loonie finished at US$0.7601 or C$1.3156, compared to
Friday’s North American close of US$0.7609 or C$1.3142.
Canadian bonds weakened on the day in the wake of better-
than-expected wholesale trade data. Earlier today the country’s
wholesale trade index rose to 1.2 per cent in May over the
previous month. Investors shied away from safe havens in favour
of riskier, high-reward investments.
The S&P/TSX Composite Index fell 14.62 points, or 0.09%, to
16,420.84.
The market was undermined by a weaker energy sector as
tensions rose between Iran and the United States. Parex
Resources was especially hard hit, losing 5.4 per cent.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.10 at $ 14.69
Buhler Industries————– $ 0.00 at $ 3.60
Maple Leaf Foods————-dn $ 0.29 at $ 33.55
Nutrien Ltd.—————–dn $ 0.50 at $ 68.33
(All figures are in Canadian dollars.)
