Trading news

 Silver price sinks more than 1% on Friday, ahead of the weekend, after refreshing five-day highs of $36.83, ahead of $37.00. At the time of writing, XAG/USD trades at $36.16 due to a slight recovery in the US dollar and rising US Treasury yields.

The Canadian Dollar (CAD) backslid on Friday, falling back on a combination of weakening Canadian Gross Domestic Product (GDP) growth metrics and fresh trade tensions with US President Donald Trump.

The EUR/USD retreats from yearly highs above 1.1750, tumbling below 1.1700 despite market participants being convinced that the Federal Reserve (Fed) will cut rates at the September meeting.

The Australian Dollar (AUD) is pulling back from weekly highs against the US Dollar (USD) on Friday.

Eurozone CFTC EUR NC Net Positions increased to €111.1K from previous €101.6K

Japan CFTC JPY NC Net Positions increased to ¥132.3K from previous ¥130.9K

United States CFTC S&P 500 NC Net Positions increased to $-144.8K from previous $-174.1K

United Kingdom CFTC GBP NC Net Positions dipped from previous £42.9K to £34.4K

United States CFTC Oil NC Net Positions: 233K vs 231K

Australia CFTC AUD NC Net Positions: $-72.6K vs previous $-69.4K

United States CFTC Gold NC Net Positions declined to $195K from previous $200.6K

The Dow Jones Industrial Average (DJIA) gained ground on Friday, driven by a combination of investor expectations that the US will figure out how to secure trade deals that circumvent its own ringfence of threatened tariffs, and rising expectations of more rate cuts from the Federal Reserve (Fed) by

NZD/USD struggles to extend its recent advance on Friday, hovering near 0.6045 after an intraday high of 0.6079. The pair remains trapped inside a rising wedge formation, typically a bearish signal, as the broadly weak US Dollar steadies.

West Texas Intermediate (WTI) Crude Oil has fallen sharply since reaching a high of $76.44 on Monday, with prices declining more than $10.00 per barrel this week.

Gold price tumbled over 1.50% on Friday amid an improvement in risk appetite, driven by several factors.

United States Baker Hughes US Oil Rig Count declined to 432 from previous 438

The Euro (EUR) climbs for an eighth consecutive day against the US Dollar (USD) on Friday, as the Greenback remains under pressure amid a combination of political and economic headwinds.

According to the International Copper Study Group, the Copper market slipped from a supply surplus to a supply deficit of 50 thousand tons in April, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

The Japanese Yen (JPY) is weakening against the US Dollar (USD) on Friday as markets weighed fresh inflation figures and a shift in risk appetite.

The GBP/USD retreats by over 0.10% after hitting a near four-year high of 1.3770 on Thursday, dipping to 1.3700 as the US Dollar recovers some ground following the release of the US Core Personal Consumption Expenditures (PCE) Price Index for May.