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Canadian Dollar Soars Amid Trade Talks, Weakening U.S. Dollar

5/7/2025

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Summary

Story summary

The Canadian dollar surged to a near seven-month high against the U.S. dollar, buoyed by a weakening greenback and pivotal trade talks between Prime Minister Mark Carney and President Trump. Even with a 6.6% dip in March exports to the U.S., robust global trade helped shrink Canada’s trade deficit to C$506 million.

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Story summary

The Canadian dollar surged to a near seven-month high against the U.S. dollar, buoyed by a weakening greenback and pivotal trade talks between Prime Minister Mark Carney and President Trump. Even with a 6.6% dip in March exports to the U.S., robust global trade helped shrink Canada’s trade deficit to C$506 million.