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Canadian dollar and business outlook

WINNIPEG – The Canadian dollar was holding steady Monday morning, as currency traders await a number of central bank rate decisions later this week.
At 8:53 CDT Monday morning the Canadian dollar was at US$0.7659 or C$1.3057 which compares with Friday’s North American close of US$0.7655 or C$1.3064.
The Bank of Canada and the United States Federal Reserve are both set to make their latest interest rate announcements on Wednesday. Canada is generally expected to be holding rates steady, while investors think there is a good chance the U.S. Fed will lower rates for the third time this year.
Crude oil was firm Monday morning, with West Texas Intermediate up 20 cents at US$56.87 per barrel.
The TSX was up 26.16 points at 8:53 CDT to sit at 16,430.65.

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