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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, July 7 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, due to a slightly weaker tone in crude oil.

     At 8:40 CDT Tuesday morning the Canadian dollar was at US$0.7366 or US$1=C$1.3575, which compares with Monday’s North American close of US$0.7384 or US$1=C$1.3543.

Global stock indices were mostly higher following an announcement that a vaccine manufacturing company has received US$1.6 billion to fund its COVID-19 coronavirus vaccine.

The TSX was down by 69.49 points at 8:40 CDT to trade at 15,600.84 points.

Crude oil prices were slightly lower to start the day. West Texas Intermediate (WTI) was down by 26 cents at US$40.37 per barrel. Brent Crude was down by 18 cents to trade at US$42.92.

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