By Commodity News Service Canada
WINNIPEG, Feb. 5 – The Canadian dollar dropped Monday, as
losses in the price of oil and the stock market dragged it down.
The Canadian dollar settled Monday at US$0.8011 or
C$1.2483, compared to Friday’s North American close of US$0.8078
or C$1.2380.
Oil prices fell Monday as rising United States output, a
weaker physical market and recent dollar strength added to
pressure from a widespread decline across equities and
commodities markets. Brent crude dropped US$1.12, or 1.6 per
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The Dow Jones Industrial Average dropped sharply Monday,
erasing gains made since the start of the year. Signs that
inflation is firming raised some traders’ expectations that the
United States Federal Reserve may hike interest rates four times
this year. The Dow dropped 1,175.21 points, or 4.6 per cent, to
24,345.75.
In Toronto, the TSX/S&P Composite Index hit its lowest
level in four and a half months Monday as a global selloff and
weakness in energy prices hit investor sentiment. The TSX/S&P
dropped 271.22 points, or 1.74 per cent, to 15,334.81.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.50 at $ 20.94
Buhler Industries————unchanged at $ 4.33
Maple Leaf Foods————-dn $ 0.42 at $ 33.94
Nutrien Ltd.—————–dn $ 1.49 at $ 60.65
(All figures are in Canadian dollars.)
