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Canadian Dollar and Business Outlook: Loonie up, markets down

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Glacier FarmMedia MarketsFarm – The Canadian dollar was up slightly on Tuesday morning, staying above the 74 United States cent mark.

The loonie was at US$0.7424 or US$1=C$1.3470 as of 8:37 a.m. CDT, compared to US$0.7418 or US$1=C$1.3481 on Monday.

The United States Dollar Index was up 0.01 of a point at 100.86.

After substantial gains on Monday, crude oil prices took a step back on Tuesday. Brent crude oil declined US$0.60 at US$80.83 per barrel. West Texas Intermediate (WTI) dropped US$0.65 at US$76.77/barrel.

The TSX/S&P Composite Index shed 100.84 points at 23,248.13.

Gold fell US$11.40 per ounce at US$2,543.80.