Canadian financial close: C$ edges lower Thursday

Glacier FarmMedia — The Canadian dollar was slightly softer relative to its United States counterpart on Thursday.

• The Canadian dollar settled at US$0.7312 or US$1=C$1.3676, which compares with Tuesday’s close of US$0.7316 or US$1=C$1.3668.
• Currency markets reacted to news Thursday that the Bank of England would leave borrowing costs unchanged after a 5-4 vote. The European Central Bank also held interest rates steady in their latest policy meeting.
• The Canadian federal government announced measures to boost auto manufacturing in the country. Included in the latest plans are a repeal of the electric vehicle mandate, but stronger greenhouse gas emission standards and rebates for electric vehicles.
• Gold was down by US$131.60 at US$4,819.20 per ounce.
• West Texas Intermediate crude oil lost 3.19 per cent at US$63.06 per barrel.
• The TSX Composite Index fell by 576.95 points at 31,994.60 points.

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