Forex Today: Upbeat US data spurs risk appetite
|What you need to know on Friday, April 30:
The US preliminary estimate for the first quarter Gross Domestic Product came in at 6.4%, beating expectations. The dollar, however, was unable to take advantage of the encouraging headline, instead pressured by risk-appetite.
Wall Street suffered an intraday setback, with the three major indexes turning red, although changing course ahead of the close and posting intraday gains. The greenback eased as stocks advanced.
The yield on the 10-year Treasury note peaked at 1.69% but settled around 1.65%.
Base metal shinned. Cooper and Palladium reached record highs, although gold remained within familiar levels, settling at around $ 1,773 a troy ounce.
European currencies hit fresh weekly highs against the greenback but finished the day pretty much unchanged within familiar levels.
The Canadian dollar was the best performer as oil prices kept advancing. WTI settled above $ 65.00 a barrel while USD/CAD fell to the 1.2280 price zone.
Top 3 Bitcoin, Ethereum, Ripple: BTC loses dominance as altcoins gain traction
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.