By Commodity News Service Canada
WINNIPEG, March 13 (CNS) – The Canadian dollar suffered
losses against its U.S. counterpart on Tuesday, on speculation
the Bank of Canada would not be raising interest rates anytime
soon.
BoC governor Stephen Poloz said the country’s economy had
“untapped potential” and was in the sweet spot of a business
cycle. He added Canada was on track to generate more economic
growth and have a larger economy without the onset of high
inflation.
The Canadian dollar settled on Tuesday at US$0.7748 cents
or C$1.2912, compared to Monday’s North American close of
US$0.7794 or C$1.2830.
The S&P/TSX Composite Index rose 42.35 points or 0.27 per
cent to 15,647.14.
Canadian bonds took strength from Poloz’s comments with the
10-year Canadian government note yield falling to 2.203 per
cent, according to Tradeweb.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.32 at $ 16.13
Buhler Industries————up $ 0.06 at $ 4.16
Maple Leaf Foods————-dn $ 0.28 at $ 31.99
Nutrien Ltd.—————–up $ 0.50 at $ 65.59
(All figures are in Canadian dollars.)
