Canadian Dollar and Business Outlook: Loonie, crude oil higher

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Published: June 16, 2023

WINNIPEG – The Canadian dollar was looking to end the week with its highest close in months.

The loonie was at US$0.7569 or US$1=C$1.3212, up from US$0.7546 or US$1=C$1.3252 on Thursday. The United States Dollar Index gained 0.07 of a point at 102.19 after declining over the past few days.

After prices jumped on Thursday due to possible economic stimuli from China, crude oil was relatively steady on Friday. Brent crude oil was US$0.10 higher at US$75.77 per barrel. West Texas Intermediate (WTI) added US$0.07 at US$70.69/barrel.

The TSX/S&P Composite Index advanced 56.64 points to 20,083.99.

Gold declined US$0.30 per ounce to US$1,970.40.

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