Daily market news

Silver price (XAG/USD) holds onto gains above the crucial figure of $28.00 in Friday’s New York session.

The USD/CAD pair faces a sharp sell-off to 1.3630 in Friday’s early New York session as Statistics Canada has posted strong Canadian Employment data.

EUR/USD is struck in a tight range slightly below the crucial resistance of 1.0800 in Friday’s European session after a sharp recovery from 1.0725.

AUD/USD is trading in the 0.6610s on Friday after pulling back from resistance at the 0.6624 barrier.

USD/JPY is retracing its recent losses from the previous session, trading around 155.70 during the European session on Friday.

GBP/USD edged higher to near 1.2540 during Asian hours on Friday, buoyed by the release of higher-than-expected UK Gross Domestic Product (GDP) data for the first quarter.

The EUR/USD pair trades on a softer note near 1.0775 during the early European hours on Friday.

The USD/CAD pair edges higher to near 1.3690 during the Asian trading hours on Friday.

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $79.30 on Friday.

EUR/USD gained ground on Thursday, finding upside on the week after the US Dollar (USD) broadly fell back after rising US Initial Jobless Claims sparked renewed hope of rate cuts from the Federal Reserve (Fed).