By Commodity News Service Canada
WINNIPEG, June 29 (CNS) – The Canadian dollar posted strong
gains against its U.S. counterpart on Friday. The loonie was
bolstered by its gross domestic product reading, which increased
0.1 per cent over the previous month. Most analysts expected the
GDP to remain unchanged.
The Canadian industrial product price index also rose one
per cent in May, which was supportive. The index gauges the
price manufacturers in Canada receive once their goods leave the
plant.
The loonie finished at US$0.7594 or C$1.3168, compared to
Thursday’s North American close of US$0.7537 or C$1.3267.
Prices for crude oil and gold bullion were up on the day,
which lent strength to the dollar and stock markets.
The S&P/TSX Composite Index advanced 97.84 points, or
0.60%, to 16,277.73.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.12 at $ 15.32
Buhler Industries————– $ 0.00 at $ 3.65
Maple Leaf Foods————— $ 0.00 at $ 33.24
Nutrien Ltd.—————–up $ 0.72 at $ 71.52
(All figures are in Canadian dollars.)
