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Canadian Dollar and Business Outlook: Loonie recovers from Friday’s losses

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Glacier FarmMedia MarketsFarm – The Canadian dollar had positive momentum on Monday morning after losing more than half a United States cent on Friday.

The loonie was at US$0.7366 or US$1=C$1.3576 as of 8:33 a.m. CDT, compared to US$0.7354 or US$1=C$1.3598 on Friday. The United States Dollar Index was down 0.04 of a point at 104.26.

Crude oil prices eased off after Israel said it will pull some troops out of Gaza. Brent crude oil lost US$0.43 at US$90.74 per barrel. West Texas Intermediate (WTI) declined US$0.23 at US$86.68/barrel.

The TSX/S&P Composite Index added 15.51 points at 22,279.89.

Gold gained US$3.90 at US$2,349.30 per ounce, approaching record-highs.