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Canadian Dollar and Business Outlook: Loonie, crude oil drop ahead of weekend

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Glacier FarmMedia – The Canadian dollar continued its downturn as the weekend approached.

     The loonie was at US$0.7092 or US$1=C$1.4100 as of 8:41 a.m. CST on Friday, compared to Thursday’s close at US$0.7102 or US$1=C$1.4008.

     The United States Dollar Index was up 0.07 of a point at 100.22.

     Crude oil prices were lower after Ukrainian President Volodymyr Zelenskyy said his country will work on a peace plan negotiated between the U.S. and Russia. West Texas Intermediate lost US$1.18 at US$57.82 per barrel. Brent crude oil dropped US$1.02 at US$62.36/barrel.

     The TSX/S&P Composite Index added 9.41 points at 29,915.96.

     Gold gained US$6.80 per ounce at US$4,066.80.