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

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Glacier FarmMedia MarketsFarm – The Canadian dollar was relatively steady on Monday morning.

The loonie was at US$0.7433 or US$1=C$1.3453 as of 8:48 a.m. CST, compared to Friday’s close of US$0.7431 or US$1=C$1.3458. The United States Dollar Index was up 0.08 of a point at 104.19.

After Iran’s foreign minister said there was progress towards a diplomatic solution between Israel and Hamas, crude oil prices went down. Brent crude oil dropped US$0.58 at US$81.61 per barrel. West Texas Intermediate (WTI) declined US$0.37 at US$76.47/barrel.

The TSX/S&P Composite Index gained 44.10 points at 21,053.70.

Gold lost US$10.10 at US$2,028.60 per ounce.