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Canadian Dollar and Business Outlook: Trade talk optimism leads to gains

By MarketsFarm

WINNIPEG, Oct. 9 (MarketsFarm) – The Canadian dollar was steady Wednesday morning as crude oil prices started the day on the rise.

As of 8:48 CDT, the Canadian dollar was at US$0.7505 or C$1.3321. That compares to Tuesday’s North American close of US$0.7506 or C$1.3323.

Crude oil prices were higher Wednesday morning on reports that China said it is open to a partial trade deal with the United States.

Brent crude oil gained 93 cents at US$59.17 and West Texas Intermediate crude was up 88 at US$55.77 per barrel. Western Canadian Select crude rose 40 cents at US$36.93 per barrel.

At the start of trading on Wednesday, the TSX/S&P Composite Index was up 53.39 points at 16,347.34 on optimism regarding U.S./China trade talks that begin tomorrow in Washington.

Gold was up US$9.90 at US$1,513.80 per ounce.

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