Canadian Dollar and Business Outlook: Loonie moves up after Canada Day

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Published: July 2, 2021

WINNIPEG – The Canadian dollar slightly increased on Friday morning as Canadian markets resumed after being closed for the Canada Day holiday.

As of 8:42 a.m. CDT, the loonie was at US$0.8076 or US$1=C$1.2382 on Friday, compared to US$0.8068 or US$1=C$1.2394 when markets closed on Wednesday.

Crude oil prices were mixed on Friday after OPEC+ nations delayed an agreement on future output. Brent crude dipped US$0.22 per barrel to US$75.62. West Texas Intermediate (WTI) fell US$0.45 to US$74.78/barrel. Western Canadian Select (WCS) jumped US$0.57 to US$61.35/barrel.

The TSX/S&P Composite Index slightly decreased 5.45 points to 20,165.58.

Gold increased US$9.82 per ounce to US$1,786.67.

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