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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, December 21 The Canadian dollar weakened slightly against its US counterpart on Monday, as crude oil prices fell further.

At 8:40 a.m. CST, the Canadian dollar was at US$0.7169 or C$1.3949 which compares with Friday’s North American close of US$0.7171, or C$1.3945.

At 8:40 a.m., New York Mercantile crude oil futures had lost US$0.38 to sit at US$34.35 a barrel.

In Canadian domestic data, the volume of rail freight carried in Canada totalled 29.3 million tonnes in October, down 6.1 per cent from the same month last year, Statistics Canada said in a report on Monday.

According to StatsCan, freight originating in Canada decreased 5.1 per cent to 26.4 million tonnes. These shipments are composed of both non-intermodal and intermodal freight.

The TSX was stronger in early activity, up 77.99 points at 8:40 a.m. CST to sit at 13,102.29.

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