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TSX Looks For Direction After Recent Gains -- Canadian Commentary

Canadian stocks look to get back on the winning track Monday, but early signals point to a mediocre start to the week.

Crude oil prices were higher, but lingering concerns about the global economy may prevent stocks from seeing much more upside after a run to record highs.

The TSX Composite edged down 63 points to 16,349.44 on Friday.

TD Bank (TD.TO) said U.S. tax changes will reduce earnings by 400 million dollars this quarter.

Amarillo Gold (AGC.TO) announced the appointment of Mike Mutchler as President & CEO and Director of the Company effective immediately.

March gold was down $2 at $1320 an ounce, supported by a weak U.S. dollar and expectations the Federal Reserve will keep interest rates on hold for the time being.

WTI light sweet crude oil was up 36 cents at $61.80 a barrel, near the highest in 3 years.

There is no major economic data on tap for Canada today, but traders will focus on housing starts, building permits and new house price data over the next three days.

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