Glacier FarmMedia — The Canadian dollar weakened slightly relative to its United States counterpart on Thursday, as losses in crude oil weighed on the energy-linked currency. Uncertainty over upcoming trade negotiations with the U.S. and Mexico also weighed on the loonie.
The Canadian dollar settled at US$0.7162 or US$1=C$1.3963, which compares with Wednesday’s close of US$0.7174 or US$1=C$1.3940.
Crude oil was pressured by expectations for increased supplies output from OPEC+ nations, with West Texas crude oil down by 1.65 per cent at US$60.76 per barrel.
The TSX Composite Index continued to post fresh record highs, rising 52.92 points at 30,160.59 points.
