By Commodity News Service Canada
WINNIPEG, July 26 (CNS) – The Canadian dollar trended
higher against its U.S. counterpart on Thursday. The loonie was
propped up by gains in crude oil prices and natural gas. A
decline in U.S. oil inventories was credited with the rise in
oil. A lack of economic news on the domestic front meant the
Canadian currency was looking to the energy sector for
direction, accounting for the gains in the past few days.
The loonie finished at US$0.7654 or C$1.3065, compared to
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Canadian government bonds increased in value after U.S.
Trade Representative Robert Lighthizer expressed optimism the
North American Free Trade Agreement could be salvaged. The
country’s 10-year government note jumped to 2.288 per cent from
2.295 per cent a day earlier.
The S&P/TSX Composite Index rose 34.97 points, or 0.21%, to
16,455.73.
Gains in the manufacturing sector lent strength to the
market. Transportation companies also chalked up gains, which
was supportive.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 4.59 at $ 17.76
Buhler Industries————– $ 0.00 at $ 3.60
Maple Leaf Foods————-dn $ 0.90 at $ 31.59
Nutrien Ltd.—————–up $ 1.23 at $ 70.30
Rocky Mountain Dealerships—dn $ 0.05 at $ 11.92
Linamar Corp—————–up $ 3.36 at $ 58.69
Ritchie Bros. Auctioneers—-up $ 1.09 at $ 43.22
(All figures are in Canadian dollars.)
