Canadian Financial Close: Loonie rises, steady for the week

Glacier FarmMedia | MarketsFarm – The Canadian dollar ended Friday with an increase, just shy of the level reached one week earlier.

The loonie closed the day at US$0.7268 or US$1=C$1.3758, compared to US$0.7243 or US$1=C$1.3806 on Thursday. On May 23, the Canadian dollar closed at US$0.7270 or US$1=C$1.3755.

Statistics Canada reported on Friday that the country’s economy grew by 2.2 per cent in the first quarter of 2025, well above trade estimates. The increase was driven by exports to the United States before tariffs came into effect.

The U.S. Dollar Index was up 0.12 of a point at 99.39. A U.S. Appeals Court on Thursday reinstated President Donald Trump’s ability to unilaterally impose tariffs on other countries’ goods.

Crude oil prices were firm to lower due to potential output hikes by OPEC+. West Texas Intermediate was down US$0.03 at US$60.91/barrel, while Brent crude oil dropped US$0.25 at US$63.90.

The TSX/S&P Composite Index retreated 35.51 points at 26,175.05. The S&P 500 was down 0.48 of a point on Friday at 5,911.69, but over the month it had a net gain of 286.55 points for its best May since 1990.

Gold fell US$28.60 per ounce at $3,315.30.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.32     at $ 62.74

Maple Leaf Foods                 dn  $ 0.01     at $ 27.27

Nutrien Ltd.                     dn  $ 0.09     at $ 81.08

RB Global Inc.                   up  $ 1.28     at $144.59

(All figures are in Canadian dollars.)