Daily market news

The EUR/USD registers gains of over 0.32% as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.

The Canadian Dollar (CAD) outperforms a majority of its currency peers on Friday, with the USD/CAD pair trading 0.32% lower at around 1.3888. The Canadian currency gains on hopes of a United States (US)-Canada interim deal.

West Texas Intermediate (WTI) US Oil rebounds on Friday and trades around $80.80 at the time of writing, up 0.40% on the day. Oil prices recover some of their losses after two days of correction as investors remain concerned about energy supply disruptions in the Middle East.

The British Pound (GBP) pares losses against a weaker US Dollar (USD) on Friday, as a run of soft US inflation figures and growing signs of labour market deterioration have cast doubt about the odds for an immediate Federal Reserve (Fed) rate hike.

The Euro (EUR) trades 0.17% higher at around 1.1550 against the US Dollar (USD) during the European trading session on Friday. The major currency pair gains as the Euro rises due to firm expectations that the European Central Bank (ECB) will raise interest rates in the policy meeting in September.

Here is what you need to know on Friday, August 14:

West Texas Intermediate (WTI), futures on NYMEX, trades 0.4% higher around $81.40 during the early European trading session on Friday.

EUR/JPY remains flat after registering minor gains in the previous day, trading around 183.90 during the Asian hours on Friday. The currency cross is holding above the short-term nine-period Exponential Moving Average (EMA) but remaining capped by the medium-term 50-period EMA.

Silver price (XAG/USD) is down 1% to near $63.80 during the Asian trading session on Friday.

The USD/CHF pair trades near the top trendline of a bearish flag pattern on Thursday, holding steady at around 0.8134 after the release of softer inflation data on the producer side.