By Commodity News Service Canada
WINNIPEG, March 15 (CNS) – The Canadian dollar sank against its U.S. counterpart on Thursday, weighed down by recent weak economic data and concerns over the direction of the North American Free Trade negotiations.
Disappointing jobs data and fears the U.S. could decide to back out of NAFTA were bearish for the loonie. Losses in gold and natural gas added to the weak tone.
The Canadian dollar settled on Thursday at US$0.7673 cents or C$1.3032, compared to Wednesday’s North American close of
US$0.7726 or C$1.2944.
Canadian bonds posted mild gains on Thursday, propped up by ideas the Bank of Canada will show caution in its approach to interest rate adjustments this year.
The S&P/TSX Composite Index rose 17.01 points or 0.11 per cent to 15,670.62.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.15 at $ 16.51
Buhler Industries————– $ 0.00 at $ 4.11
Maple Leaf Foods————-up $ 0.02 at $ 31.80
Nutrien Ltd.—————–dn $ 0.04 at $ 65.29
(All figures are in Canadian dollars.)
