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Canadian Dollar and Business Outlook: Loonie stays put to start week

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Glacier FarmMedia | MarketsFarm – The Canadian dollar remained steady on Monday morning.

The loonie was at US$0.7197 or US$1=C$1.3895 as of 8:31 a.m. CDT, compared to Friday’s close at US$0.7199 or US$1=C$1.3890. After announcing the exclusion of electronics from tariffs on Friday, United States President Donald Trump said on Sunday he would place tariffs on Chinese-made devices at a future date.

The U.S. Dollar Index was up 0.05 of a point at 100.15.

Crude oil was on the rise after Trump’s announced tariff exemptions and increased crude oil demand from China. West Texas Intermediate (WTI) increased US$0.61 at US$62.11 per barrel. Brent crude oil added US$0.64 at US$65.40/barrel.

The TSX/S&P Composite Index gained 183.64 points at 23,771.44.

Gold was down US$26.90 per ounce at $3,217.70.