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Canadian Dollar and Business Outlook: Loonie moves under 76 U.S. cents

By MarketsFarm

WINNIPEG, July 30 (MarketsFarm) – The Canadian dollar was down Tuesday morning, due to declining values on the North American stocks

As of 8:58 CDT, the Canadian dollar was at US$0.7580 or C$1.3183. That compares to Monday’s North American close of US$0.7599 or C$1.3159.

At the start of trading the TSX/S&P Composite Index was down 52.59 points at 16,437.29.

In the United States, the S&P 500 slipped 12.72 points at 3,008.25, the NASDAQ lost 43.80 at 8,249.53 and the Dow Jones fell 11.16 to 27,110.19 points.

Crude oil prices were up Tuesday morning, buoyed by speculation that tomorrow the United States Federal Reserve is poised to cut interest rates for the first time in 10 years.

West Texas Intermediate crude oil was up 26 cents at US$57.13 per barrel, and Brent crude oil up 41 cents at US$64.12 per barrel.

Gold was up US$6.90 at US$1,431.20 per ounce.

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