Silver (XAG/USD) surges on Friday, trading around $82.60 at the time of writing, up 5.40% on the day as the US Dollar (USD) weakens and markets reassess the outlook for United States (US) monetary policy.

Citing an Iranian official, Fars News Agency reported on Friday that if the US naval blockade persists, Tehran will consider it a violation of the ceasefire and close the Strait of Hormuz, per Reuters.

Nordea’s Henrik Unell maintains a constructive stance on the Swedish Krona, arguing that carry should be secondary to growth prospects and equity flows.

The Euro (EUR) edges higher against the US Dollar (USD) on Friday as the Greenback comes under heavy selling pressure after Iran’s decision to reopen the Strait of Hormuz improved overall market sentiment and raised hopes for a potential US-Iran peace agreement.

Deutsche Bank’s Robin Winkler argues that German manufacturing faces an ongoing "China shock" as Germany’s trade deficit with China has reached a record size and now exceeds its surplus with the US.

Volkmar Baur at Commerzbank flags surging trade and current account surpluses in China, Taiwan and South Korea alongside weak currencies versus Euro (EUR) and, for the Won (KRW), even versus US Dollar (USD).

Danske Research Team reviews Sweden’s March inflation, highlighting a downside surprise in core inflation and energy, driven by a sharper-than-expected fall in electricity prices and broad food price declines.

In a post published on Truth Social on Friday, United States (US) President Donald Trump said that they will get the "nucelar dust" from Iran, created by their B2 bombers.

BNP Paribas economist Hélène Baudchon compares the current Oil and gas price surge linked to the war in Iran with the 2022 energy shock.

In a video statement released on Friday, Israeli Prime Minister Benjamin Netanyahu said that they have the opportunity to make a historic deal with Lebanon, per Reuters.

West Texas Intermediate (WTI) US Oil price collapses on Friday, trading near $81.50 at the time of writing after losing 9.12% during the day. The move marks a sharp acceleration lower after the Crude briefly surged above $90 earlier in the day before sellers took control.

Deutsche Bank analysts flag a sharp rise in 10‑year gilt yields after a report that former United States (US) ambassador Peter Mandelson failed security vetting, with the decision allegedly overruled.

Nordea’s Ole Håkon Eek-Nielsen and Jan von Gerich now expect the ECB to deliver four consecutive 25 bp rate hikes starting in June, despite recent ceasefire news in the Middle East.

Christine Lagarde, President of the European Central Bank (ECB), gave a statement at the fifty-third meeting of the International Monetary and Financial Committee (IMF) on Friday.

Commerzbank analysts highlight that the International Copper Study Group has already shifted its 2026 view to a deficit and is likely to project further tightening into 2027.

GBP/JPY trades with a mild downside bias on Friday in relatively calm market conditions, with the Japanese Yen modestly outperforming the British Pound as growing expectations around a potential US–Iran peace agreement weigh on Oil prices.

USD/JPY falls toward 158.20 at the time of writing, down 0.61% on Friday after hitting a daily high of 159.53 earlier. The pair now faces notable selling pressure as improving geopolitical conditions in the Middle East reduce demand for safe-haven US Dollar (USD).

Ripple (XRP) is trading at $1.44 at the time of writing on Friday, its upside seemingly capped by its weekly peak around $1.47. Still, the overall tone remains bullish as the remittance token holds above key support levels at $1.40 and $1.30.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that global markets are consolidating as investors watch whether the US-Iran ceasefire becomes a durable agreement.

The United States (US) and Iran are currently negotiating a draft agreement aimed at ending the conflict, according to a report by Axios. The talks focus on a three-page memorandum of understanding that includes several measures related to Iran’s nuclear program.

Abbas Araghchi, the foreign minister of Iran, announced on Friday that in line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire.

ING keeps a mildly bearish profile for USD/CAD into year‑end, driven mainly by expected Dollar weakness once the Federal Reserve resumes cutting in 3Q. Canada’s domestic backdrop is less supportive, with the Bank of Canada worried about upcoming USMCA talks and jobs.

The New Zealand Dollar (NZD) shows marginal losses against the US Dollar (USD) on Friday, trading around 0.5885 at the time of writing, after pulling back from monthly highs, around 0.5920 earlier this week.

United Overseas Bank’s (UOB) strategists Quek Ser Leang and Lee Sue Ann report that GBP/USD reversed sharply after nearing 1.3600, with intraday downside now expected to stay within a 1.3495–1.3555 range.

Canada Canadian Portfolio Investment in Foreign Securities up to $25.36B in February from previous $11.39B

Canada Foreign Portfolio Investment in Canadian Securities below expectations ($23.81B) in February: Actual ($6.17B)

Gold (XAU/USD) holds steady on Friday as expectations grow around a potential US-Iran peace agreement. At the time of writing, XAU/USD is trading around $4,807, up nearly 0.35% on the day, and remains on track for a fourth consecutive weekly gain.