Glacier FarmMedia — The Canadian dollar held steady on Thursday.
The Canadian dollar settled at US$0.7118 or US$1=C$1.4048, which compares with Wednesday’s close of US$0.7120 or US$1=C$1.4045.
Speaking in Washington, D.C., Bank of Canada Governor Tiff Macklem said the growth outlook remained “soft” for the country. “We do expect growth in the second half of the year … but with weakness in business investment and exports and uncertainty about jobs, growth will likely be soft,” he said.
The continued shutdown of the U.S. government and resulting lack of economic data remained a feature in the financial markets.
West Texas Intermediate crude oil was down by 1.33 per cent at US$57.07 per barrel.
The TSX Composite Index lost 178.32 points at 30,458.80 points.
