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Canadian Dollar and Business Outlook: Loonie makes small gain

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Glacier FarmMedia MarketsFarm – The Canadian dollar inched upwards on Tuesday.

The loonie was at US$0.7342 or US$1=C$1.3620 as of 8:33 a.m. CDT, compared to US$0.7334 or US$1=C$1.3636 on Monday. The United States Dollar Index was down 0.23 of a point at 104.37.

Crude oil prices made gains due to rising tensions in the Middle East and an upcoming OPEC+ meeting next week. Brent crude oil added US$0.34 at US$83.44 per barrel. West Texas Intermediate (WTI) jumped US$1.36 at US$79.08/barrel.

The TSX/S&P Composite Index lost 60.22 points at 22,313.16.

Gold surged US$29.80 per ounce at US$2,364.30.