By Commodity News Service Canada
WINNIPEG, May 24 (CNS) – The Canadian dollar weakened
slightly against its U.S. counterpart on Thursday. The American
greenback took strength from a new business report indicating
that much of Europe is entering an economic slowdown.
The loonie was also pressured by losses in the July crude
oil contract on the New York Mercantile Exchange. The cost of a
barrel of oil fell US$1.13 to US$70.71 a barrel.
The Canadian dollar settled Thursday at US$0.7757 or
C$1.2891, compared to Wednesday’s North American close of
US$0.7766 or C$1.2876.
The S&P/TSX Composite Index fell 20.18 points, or 0.13%, to
16,113.62. Gains in gold helped limit the damage as miners New
Gold, Yamana Gold and Alamos Gold Inc. all recorded gains on the
day.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.38 at $ 15.77
Buhler Industries————dn $ 0.05 at $ 3.70
Maple Leaf Foods————-dn $ 0.02 at $ 29.27
Nutrien Ltd.—————–up $ 0.05 at $ 65.94
(All figures are in Canadian dollars.)
