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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, July 8 (MarketsFarm) – The Canadian dollar was slightly weaker on Wednesday ahead of an update on Canada’s economic status.

     At 8:35 CDT Wednesday morning the Canadian dollar was at US$0.7360 or US$1=C$1.3575, which compares with Tuesday’s North American close of US$0.7362 or US$1=C$1.3583.

Bill Morneau, Canada’s Minister of Finance, will provide a fiscal update later today. The update is expected to show a deficit of over C$300 billion for the year.

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

Crude oil prices were slightly stronger despite reports of large stockpiles in the United States. West Texas Intermediate (WTI) was up by nine cents at US$40.71 per barrel. Brent Crude was up by nine cents to trade at US$43.17.

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