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Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, Nov. 19 (CNS Canada) – The Canadian dollar is slightly down Monday morning.

At 8:32 CST Monday morning the Canadian dollar was at US$0.7580 or C$1.3189, which compares with Friday’s North American close of US$0.7602 or C$1.3154.

Oil prices Monday morning are slightly down. West Texas Intermediate crude this morning was US$55.88 per barrel after closing Friday at US$56.46 per barrel.

Canadian heavy crude rallied Friday after news of plans to increase shipment of oil by rail. Production is ahead of Canada’s ability to move oil, especially to refineries in the United States on the Gulf Coast. Canadian heavy crude climbed to US$17.43 per barrel after hitting a 10-year low on Thursday.

Gold is up Monday morning to US$1,221.50 per ounce from Friday’s close of US$1,223.00 per ounce.

The Toronto TSX/S&P Composite Index was virtually unchanged Monday morning shortly after open at 15,156.95.

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