Daily market news

Silver Price rises for the seven straight day putting aside the jump in US Treasury bond yields and the US Dollar, after a strong US jobs report calmed Federal Reserve officials about the employment situation in the US.

EUR/USD deepened its descent into fresh lows not seen since November 2022, briefly dipping below 1.0250 on Friday and the pair tallies four-day losing streak, reflecting an overall negative tone in recent sessions.

The USD/JPY remains subdued after hitting a six-month high of 158.88 following the release of a stellar US Nonfarm Payrolls report, which saw the Unemployment Rate falling near 4%.

The Euro (EUR) has settled into a tight trading range around the 1.03 point through the latter part of this week, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

EUR/USD trades in a tight range around 1.0300 in Friday’s North American session.

Scope for the New Zealand (NZD) to test the 0.5570 level; a sustained break below this level seems unlikely. In the longer run, risk for NZD is beginning to shift to the downside, but it must break clearly below 0.5570, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

Silver price (XAG/USD) gains to near $31.30 in Friday’s European session.

The AUD/USD pair extends its sideways consolidative price move through the first half of the European session on Friday and remains close to its lowest level since October 2022 touched the previous day.

West Texas Intermediate (WTI) Oil price extends gains for the second successive session, trading around $73.90 per barrel during the European hours on Friday.

USD/CAD continues its winning streak for the fourth successive session, trading around 1.4420 during the Asian hours on Friday.