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Canadian Dollar and Business Outlook: Loonie retreats, crude oil steady

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Glacier FarmMedia MarketsFarm – The Canadian dollar took a small step back on Thursday morning.

The loonie was at US$0.7270 or US$1=C$1.3755 as of 8:37 a.m. CDT, compared to US$0.7279 or US$1=C$1.3739 on Wednesday.

The United States Dollar Index gained 0.23 of a point at 103.43.

Despite ongoing tensions in the Middle East, crude oil prices stayed relatively steady. Brent crude oil was down US$0.03 at US$78.30 per barrel. West Texas Intermediate (WTI) was higher by US$0.10 at US$75.33/barrel.

The TSX/S&P Composite Index rose 130.12 points at 22,011.07.

Gold was up US$15.60 per ounce at US$2,448.00.