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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, March 14 (MarketsFarm) The Canadian dollar held fairly steady overnight, dipping slightly as trade talks stall between the United States and China, causing uncertainty on the global trade front.

At 8:45 CDT Thursday morning the Canadian dollar was at US$0.7494 or C$1.3344, which compares with Wednesday’s North American close of US$0.7504 or C$1.3336.

Crude oil prices continue to climb to a four-month high as OPEC urges countries to continue to limit production and avoid surpluses. So far this year crude prices have increased by nearly 30 per cent, reflecting American sanctions on Iran and Venezuela. Members of OPEC are preparing to meet in Baku, Azerbaijan on March 17 and 18 to review further production cutbacks.

WTI was trading at 58.56 per barrel at 8:52 CDT.

Meanwhile, global stock futures are flat, reflecting continued uncertainties between the United States and China. President Donald Trump said he is in no rush to reach an agreement with China, insisting that any deal must include protection for intellectual property.

The TSX fell slightly at 8:45 CDT, down 21.27 points at 16,114.96.

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