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Canadian dollar and business outlook

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Published: April 7, 2017

By Commodity News Service Canada

WINNIPEG, April 7 – The Canadian dollar was stronger in early activity on Friday, underpinned by advancing crude oil prices.

Crude oil futures gained ground Friday morning, underpinned by global tension after a US airstrike on a Syrian airbase, which could put supplies of the commodity into question.

At 9:05 CDT Friday, the Canadian dollar was at US$0.7482 or US$=C$1.3365, which compares with Thursday’s North American close of US$0.7453 or US$1=C$1.3418.

In Canadian domestic data, employment was little changed in March, up 0.1 per cent, while the unemployment rate rose 0.1 percentage points to 6.7 per cent as more people searched for work, Statistics Canada said in a report on Thursday.

The TSX was down 42.51 points at 9:05 CDT Friday morning to sit at 15,654.67.

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