By Commodity News Service Canada
WINNIPEG, May 29 (CNS) – The Canadian dollar dropped in
value Tuesday, weighed down by a drop in the price of oil and
losses on the stock exchange.
The Canadian dollar settled Tuesday at US$0.7680 or
C$1.3020, compared to Monday’s North American close of US$0.7692
or C$1.3001.
Oil prices fell more than US$1 Tuesday over worries that
Saudi Arabia and Russia will pump more crude oil to boost
supplies after more than a year of reducing worldwide
inventories. United States West Texas Intermediate crude dropped
US$1.15 to settle at US$66.73 per barrel.
In Toronto, the TSX/S&P Composite slipped lower Tuesday,
due to the losses in financial stocks led by Bank of Nova
Scotia, which reported quarterly results. The TSX/S&P dropped
93.53 points, or 0.58 per cent, to 15,922.61.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.03 at $ 15.94
Buhler Industries————unchanged at $ 3.61
Maple Leaf Foods————-up $ 0.37 at $ 30.00
Nutrien Ltd.—————–dn $ 0.41 at $ 65.21
(All figures are in Canadian dollars.)
