Canadian dollar slips before domestic business confidence report

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TORONTO - The Canadian dollar was little-changed Monday after the release of a report that showed improved confidence from the domestic business community.

The loonie dropped 0.15 of a cent to 101.43 cents US mid-morning.

A new survey by the Bank of Canada suggests Canadian business executives are looking forward to better conditions in 2013 than last year.

The central bank's latest quarterly business outlook survey shows firms on balance think sales and employment will pick up after a tough 2012.

The survey is based on responses from senior management at 100 firms chosen as a representative sample of the overall economy.

In commodities, oil prices fell 40 cents to $93.16 for the February crude contract on the New York Mercantile Exchange.

Gold prices lifted with the February contract moving up $7.10 to US$1,667.70 an ounce.

Organizations: Bank of Canada, New York Mercantile Exchange

Geographic location: TORONTO, US

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