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

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Glacier FarmMedia MarketsFarm – The Canadian dollar was virtually unchanged on Thursday morning.

The loonie was at US$0.7475 or US$1=C$1.3378, compared to Wednesday’s close of US$0.7473 or US$1=C$1.3382. The United States Dollar Index was up 0.24 of a point to 102.60.

Crude oil prices were higher on Thursday due to ongoing tensions in the Middle East. Brent crude oil rose US$1.66 at US$78.46 per barrel. West Texas Intermediate (WTI) jumped US$1.67 at US$73.04/barrel.

The TSX/S&P Composite Index shed 30.85 points at 20,958.57.

Gold increased US$6.50 at US$2,034.30 per ounce.