{"id":59383,"date":"2025-05-06T20:10:09","date_gmt":"2025-05-06T20:10:09","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/05\/06\/canadian-dollar-rallies-on-positive-mood-of-carney-trump-meeting\/"},"modified":"2025-05-06T20:10:09","modified_gmt":"2025-05-06T20:10:09","slug":"canadian-dollar-rallies-on-positive-mood-of-carney-trump-meeting","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/05\/06\/canadian-dollar-rallies-on-positive-mood-of-carney-trump-meeting\/","title":{"rendered":"Canadian dollar rallies on &#039;positive&#039; mood of Carney, Trump meeting"},"content":{"rendered":"<p> \n<br \/><br \/>\n<iframe loading=\"lazy\" title=\"Washington may welcome Canada&#039;s &#039;coherent&#039; talk on trade\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/JiuCW87tqq4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><br \/>\n<\/iframe><\/p>\n<p> The <\/p>\n<p>                Canadian dollar<\/p>\n<p>                 rallied on the \u201cpositive\u201d mood displayed during the meeting between Prime Minister <\/p>\n<p>                Mark Carney<\/p>\n<p>                 and United States President <\/p>\n<p>                Donald Trump<\/p>\n<p>                 at the White House on Tuesday. <\/p>\n<p> After winning the <\/p>\n<p>                federal election<\/p>\n<p>                 a little more than a week ago, Carney travelled to Washington, D.C., to get talks started with Trump on <\/p>\n<p>                trade and tariffs. <\/p>\n<p> The <\/p>\n<p>                loonie<\/p>\n<p>                 rallied 0.3 per cent against its U.S. counterpart, hitting 72.7 cents U.S., a roughly seven-month high, after Carney arrived at the White House and the question and answer session with the press got underway. <\/p>\n<p> Trump complimented the prime minister on his election win, describing it as \u201cprobably one of the greatest comebacks in the history of politics, maybe even greater than mine.\u201d <\/p>\n<blockquote class=\"twitter-tweet\" data-dnt=\"true\" data-width=\"550\">\n<p dir=\"ltr\" lang=\"en\">President Donald J. Trump \ud83e\udd1d Canadian Prime Minister <a href=\"https:\/\/twitter.com\/MarkJCarney?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">@MarkJCarney<\/a>. \ud83c\uddfa\ud83c\uddf8\ud83c\udde8\ud83c\udde6 <a href=\"https:\/\/t.co\/OJyKuId8QS\" rel=\"nofollow\">pic.twitter.com\/OJyKuId8QS<\/a><\/p>\n<p>\u2014 The White House (@WhiteHouse) <a href=\"https:\/\/twitter.com\/WhiteHouse\/status\/1919811030319767843?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">May 6, 2025<\/a><\/p><\/blockquote>\n<p> The president added that he and Carney \u201chave a lot of things in common, but have some tough, tough points to go over and that will be fine.\u201d <\/p>\n<p> Carney told Trump that Canada won\u2019t \u201cever\u201d be for sale, but \u201cthe opportunity is the partnership and what we can build together.\u201d <\/p>\n<p> Karl Schamotta, chief market strategist at Corpay Currency Research, attributed the Canadian dollar\u2019s rise to early signs from the meeting that a full-blown crisis over tariffs can be averted. <\/p>\n<p> \u201cEvidence of a relatively warm relationship between the two leaders was on display, giving investors hope that a confidence-shattering escalatory tariff cycle can be avoided in the future,\u201d he said in an email. <\/p>\n<p> Royce Mendes, managing director and head of macro strategy at <\/p>\n<p>                Desjardins Group<\/p>\n<p>                , also described the overall tone of the meeting and press conference as \u201cpositive,\u201d noting that the Canadian dollar and S&#038;P\/TSX composite index ralled during the event. <\/p>\n<p> However, \u201cloonie bulls are treading cautiously,\u201d Schamotta said, given that Trump\u2019s flattering words, at least for Carney, run in sharp contrast to his actions on the tariff front since he regained office on Jan. 20. <\/p>\n<p> A social media post made by the president shortly before Carney was scheduled to arrive at the White House showed Trump hasn\u2019t abandoned his complaints regarding Canada. <\/p>\n<p> Posting on the Truth Social platform, the president repeated his complaint that the U.S. was spending US$200 billion a year to subsidize Canada and it is providing free military protection. He also repeated earlier claims that the U.S. doesn\u2019t need Canada\u2019s cars, lumber or energy. <\/p>\n<ul class=\"related_links\">\n<li>Trump leaves door open for CUSMA termination<\/li>\n<li>Carney describes Trump as a &#8216;transformational president&#8217; in first meeting in D.C.<\/li>\n<\/ul>\n<p> \u201cThe Canadian dollar\u2019s rally may have further to go,\u201d Schamotta said, adding that \u201cit will trade at a discount to other major currencies for the foreseeable future as investors hedge trade risks.\u201d <\/p>\n<p> <span data-olk-copy-source=\"MessageBody\">The loonie is up nearly 5.6 per cent against the greenback since hitting a near-10-year low on Jan. 31, as investors lost confidence in the U.S. dollar over the chaos stirred up by tariffs and the headwinds they could pose for the U.S. economy.<\/span> <\/p>\n<p> However, the Canadian currency is down against other major denominations including the Japanese yen, the Swiss franc and the euro, during the same time period. <\/p>\n<p> <em>\u2022 Email: gmvsuhanic@postmedia.com<\/em> <\/p>\n<p> <em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em> <\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>\n<br \/>Canadian dollar rallies on &#039;positive&#039; mood of Carney, Trump meeting<\/a><br \/>\n<br \/>2025-05-06 20:10:09<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian dollar rallied on the \u201cpositive\u201d mood displayed during the meeting between Prime Minister Mark Carney and United States President Donald Trump at the White House on Tuesday. After&#8230;<\/p>\n","protected":false},"author":2,"featured_media":59384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-59383","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/59383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=59383"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/59383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/59384"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=59383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=59383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=59383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}