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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Oct. 15 (MarketsFarm) – The Canadian dollar was sharply weaker Thursday morning, retreating from its recent five-week highs as losses in crude oil and global equity markets weighed on the currency.
At 8:55 CDT Thursday morning the Canadian dollar was at US$0.7557 or C$1.3233 which compares with Wednesday’s North American close of US$0.7611 or C$1.3139.
A ‘risk-off’ sentiment was being felt in financial markets on Thursday, as spiking worldwide COVID-19 cases lead to a return of lockdown measures in many areas.
West Texas Intermediate crude oil was down 3.3 per cent in early activity, at US$39.95 per barrel.
The TSX was down by 98.45 points at 8:55 CDT to trade at 16,356.95 points.

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