Canadian Dollar Edges Lower Amid Strong Economic Growth

The Canadian dollar weakened against its US counterpart on Friday but still managed to post a monthly gain due to stronger-than-expected economic growth in Canada.

The loonie traded at 1.4025 per US dollar, down 0.1 percent from the previous day's close, with oil prices playing a significant role in its performance.

Data released on Friday showed that Canada's gross domestic product grew by 0.3 percent in May, exceeding analysts' expectations of a 0.2 percent gain.

This strong economic growth suggests that the Bank of Canada may trim its estimate of slack, but it is unlikely to change the bigger picture concerns of fresh tariff threats and high energy prices.