Daily market news

The Canadian Dollar (CAD) is trading higher against the US Dollar (USD) on Friday as markets focus on dovish comments from Fed Governor Waller.

The Euro (EUR) gains positive traction against the US dollar (USD) on Friday, supported by a softer Greenback amid easing US Treasury yields and cautious market sentiment.

West Texas Intermediate (WTI), the US Crude Oil benchmark, extends gains for the second straight day on Friday, with spot prices hovering around $66.90 during the American trading hours, up nearly 1% on the day.

The current price action appears to be part of a 147.65/148.85 range trading phase. In the longer run, USD strength has paused for now; it is expected to trade in a range of 146.90/149.20, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

The Dollar is trading in a choppy and volatile manner against the Japanese Yen.

Japan’s upper house election on Sunday has turned into a pivotal event for JGBs and the Japanese Yen (JPY), ING’s FX analyst Francesco Pesole notes.

The EUR/USD pair is posting moderate gains in a calm market session on Friday, with risk appetite increasing in Asia after the market digested bright consumption and employment figures from the US, and Federal Reserve (Fed) Governor Christopher Waller reiterated his call for lower rates in a speech

The EUR/GBP cross gains ground to near 0.8655 during the early European session on Friday. The Pound Sterling (GBP) edges lower against the Euro (EUR) as the UK Unemployment Rate hits the highest level in four years.

West Texas Intermediate (WTI) Oil price extends its gains for the second successive day, trading around $66.40 per barrel during the Asian hours on Friday. Crude Oil prices receive support from concerns over supply risks.

Silver price (XAG/USD) holds mild losses after two days of gains, trading around $38.20 per troy ounce during the Asian hours on Friday.