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Canadian dollar and business outlook

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Published: April 27, 2017

By Commodity News Service Canada

WINNIPEG, April 27 (CNS Canada) – The Canadian dollar was slightly weaker Thursday morning, as losses in crude oil put some pressure on the currency.

At 9:03 CDT Thursday morning the Canadian dollar was at US$0.7347 or C$1.3611 which compares with Wednesday’s North American close of US$0.7357 or C$1.3593.

News out of the US White House that President Donald Trump was no longer set to sign an executive order backing out of the North American Free Trade Agreement (NAFTA), but will rather work to renegotiate the trade deal with Canada and Mexico, provided some support for the currency.

However, sharp declines in crude oil, which was down by about a dollar per barrel Thursday morning, weighed on the energy-linked currency.

The TSX was weaker at 9:03 CDT, down 59.85 points at 15,589.69.

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