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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, July 21 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, as gains in crude oil provided some support.
At 9:08 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.7915 or US$1=C$1.2634 which compares with Tuesday’s North American close of US$0.7855 or US$1=C$1.2730.
After posting losses for most of the past week, crude oil appeared to have found a floor and was seeing a modest recovery.
West Texas Intermediate crude oil was up 2.9 per cent at US$69.20 per barrel.
New home prices in Canada were up by 0.6 per cent in June, according to a report from Statistics Canada. The increase in the New Housing Price Index marked the smallest rise in six months. On an annual basis, the index was up 11.9 per cent on the year.
The TSX was stronger, up 193.29 points at 9:08 CDT, trading at 20,136.00 points.

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