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Canadian Dollar and Business Outlook: Loonie moves up, crude oil mixed

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Glacier FarmMedia MarketsFarm – The Canadian dollar made a small gain on Wednesday morning.

The loonie was at US$0.7340 or US$1=C$1.3624 as of 8:33 a.m. CDT, compared to US$0.7332 or US$1=C$1.3638 on Tuesday. The United States Dollar Index was down 0.05 of a point at 105.07.

Crude oil prices were mixed as a drawdown in United States stockpiles was offset by demand concerns in China. Brent crude oil declined US$0.06 at US$84.60 per barrel. West Texas Intermediate (WTI) was up US$0.03 at US$81.44/barrel.

The TSX/S&P Composite Index gained 70.94 points at 22,113.44.

Gold jumped US$18.40 per ounce at US$2,386.30.