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Loonie edges higher after positive data
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Loonie edges higher after positive data
May 30, 2025 2:12 PM

The Canadian dollar rose against a basket of major rivals on Friday following strong growth data.

Canadas GDP growth clocked in at 0.1% in March, as expected.

On trading, the CAD/USD pair rose 0.6% as of 20:51 GMT to 0.7286.

Aussie

The Australian dollar was little changed against the US dollar at 0.6443.

US Dollar

The dollar index rose 0.1% as of 20:28 GMT to 99.3, with a session-high at 99.6, and a low at 99.1.

Trump accused China of violating an agreement suspending reciprocal tariffs with the US, adding that he was too nice with Beijing.

The US trade representative raised even more concerns when talking about potentially expanding tariffs against China if needed.

Earlier US data showed personal consumption rose 2.5% y/y in April, slowing down from 2.6% in March.

The University of Michigans consumer confidence survey fell 24.5% in May from 69.1 in the same month of last year.

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