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Canadian Dollar and Business Outlook: Loonie down, TSX falls

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Glacier FarmMedia MarketsFarm – The Canadian dollar took a blow on Wednesday morning.

The loonie was at US$0.7303 or US$1=C$1.3693 as of 8:40 a.m. CDT, compared to US$0.7332 or US$1=C$1.3638 on Tuesday. The United States Dollar Index was up 0.21 of a point at 104.82.

Crude oil prices continued to rise due to Middle East tensions and next week’s OPEC+ meeting. Brent crude oil added US$0.32 at US$84.54 per barrel. West Texas Intermediate (WTI) increased US$0.31 at US$80.14/barrel.

The TSX/S&P Composite Index fell 254.74 points at 22,010.31.

Gold dropped US$11.10 per ounce at US$2,345.40.