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Canadian Dollar and Business Outlook: Loonie rises, oil drops

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Published: August 30, 2021

WINNIPEG– The Canadian dollar made slight gains on Monday.

As of 9:04 a.m. CDT, the loonie was at US$0.7936 or US$1=C$1.2601, compared to US$0.7915 or US$1=C$1.2635 when markets closed on Friday.

Crude oil was mostly lower on Monday. Brent crude oil dipped US$0.19 per barrel to US$72.51. West Texas Intermediate (WTI) declined US$0.48 to US$68.26/barrel. Meanwhile, Western Canadian Select (WCS) advanced US$0.31 to US$56.68/barrel.

The TSX/S&P Composite Index lost 84.73 points at 20,559.91.

Gold was down US$2.83 per ounce to US$1,814.74.

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