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Canadian Dollar and Business Outlook: Loonie stronger, crude oil weaker

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Glacier FarmMedia MarketsFarm – The Canadian dollar was on the rise on Thursday.

The loonie was at US$0.7351 or US$1=C$1.3604 as of 8:30 a.m. CDT, compared to US$0.7342 or US$1=C$1.3620 on Wednesday. The United States Dollar Index fell 0.85 of a point at 104.20.

Crude oil prices were slightly lower despite a drawdown in United States stockpiles. Brent crude oil was down US$0.13 at US$84.95 per barrel. West Texas Intermediate (WTI) dipped US$0.17 at US$81.93/barrel.

The TSX/S&P Composite Index gained 72.16 points at 22,422.39.

Gold spiked US$31.20 per ounce at US$2,410.90.