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Canadian Dollar and Business Outlook

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Published: September 24, 2018

By Commodity News Service Canada

WINNIPEG, MB, Sep. 24, 2018 (CNS Canada) – The Canadian
dollar was slightly higher Monday morning, as trade war fears
limited gains.

At 8:53 CDT Monday morning the Canadian dollar was at
US$0.7744 or C$1.2914, which compares with Friday’s North
American close of US$0.7742 or C$1.2916.

Oil prices rose as United States sanctions restricted
Iranian crude exports which tightened global supply. Brent crude
prices gained US$2.14, or 2.7 per cent, US$80.94 per barrel.

Wall Street opened down on Monday as the latest round of
U.S./China tariffs took effect. The Dow Jones dropped 38.25
points, or 0.14 percent, to 26,705.25. The S&P500 lost 7.84
points, or 0.27 percent, to 2,921.83. The Nasdaq Composite fell
47.57 points, or 0.60 percent, to 7,939.38.

The Toronto TSX/S&P Composite Index opened higher Monday, as
a jump in crude oil prices lifted energy stocks. The TSX/S&P rose
24.78 points, or 0.15 percent, to 16,248.91.

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