Silver (XAG/USD) trades flat on Friday, failing to capitalize on improving market sentiment surrounding a potential US-Iran peace deal even as the US Dollar (USD) slides to a two-week low. At the time of writing, XAG/USD trades around $75.60 and is on track to end the week virtually unchanged.

According to Fars News, the US and Iran are in the final stages of an agreement, though a final decision hasn’t been made.

The EUR/USD edges up by 0.12% as the Greenback drops amid hostilities in the Middle East, while a US-Iran deal is pending approval by the White House and senior Iranian officials. At the time of writing, the EUR/USD trades at 1.1664.

USD/CAD reverses its intraday gains on Friday as a softer US Dollar (USD) helps the Canadian Dollar (CAD) recover from weakness driven by softer-than-expected Gross Domestic Product (GDP) figures.

Colombia National Jobless Rate meets forecasts (8.8%) in April

The AUD/USD pair advances toward the 0.7180 region on Friday as the United States (US) Dollar (USD) remains under pressure amid improving market sentiment linked to renewed hopes for a longer-lasting ceasefire agreement between the US and Iran.

In a post published on Truth Social on Friday, United States (US) President Donald Trump said that the naval blockade will be lifted and ships caught in the Strait of Hormuz may start the process of "heading home."

Federal Reserve (Fed) Governor Michelle Bowman said progress on lowering inflation has stalled while discussing the economic outlook and monetary policy in a speech at a conference in Iceland on Friday. Bowman claimed that the longer the Iran war continues, the greater the risks to inflation become.

United States Chicago PMI above forecasts (50.5) in May: Actual (62.7)

GBP/JPY trims part of its earlier intraday losses on Friday as the British Pound (GBP) draws support from hawkish remarks by Bank of England (BoE) Governor Andrew Bailey. At the time of writing, the cross trades around 214.15 after recovering from an intraday low of 213.59.

Anna Paulson, President of the Federal Reserve (Fed) Bank of Philadelphia, said inflation is a drag on the United States (US) economy while discussing the economic outlook and regional trends at an event hosted by the Chamber of Commerce of Southern New Jersey on Friday.

In a post published on X on Friday, Iran's top negotiator Mohammad Baqer Qalibaf said they have no trust in guarantees or words, and added "only actions are the measures, no action will be taken before the other side acts."

Ripple (XRP) is gaining mild traction, trading around $1.32 at the time of writing on Friday, as the crypto prices broadly stabilize.

DBS Group Research’s Philip Wee notes that Brent and WTI have fallen sharply, as markets anticipate abundant supply from the Gulf.

Brown Brothers Harriman’s Elias Haddad notes that resilient US growth and sticky PCE inflation keep the Dollar supported despite improved risk sentiment from progress on a US-Iran deal.

Canada's Gross Domestic Product (GDP) was unchanged on a quarterly basis in the first quarter of 2026 following the 0.2% contraction recorded in the last quarter of 2025, Statistics Canada reported on Friday.

United States Wholesale Inventories below expectations (0.6%) in April: Actual (0.5%)

United States Goods Trade Balance up to $-82.4B in April from previous $-88.7B

Canada Gross Domestic Product (MoM) registered at -0.1%, below expectations (0%) in March

Canada Gross Domestic Product Annualized came in at -0.1%, below expectations (1.5%) in 1Q

Canada Gross Domestic Product (QoQ): 0% (1Q) vs -0.2%

Gold (XAU/USD) extends its rebound on Friday as traders assess the prospects of a potential US-Iran deal. At the time of writing, XAU/USD trades around $4,530 after recovering from a two-month low of $4,366 touched on Thursday.

Brown Brothers Harriman reports that USD/JPY is trading directionless above 159.00 after Japan’s Ministry of Finance conducted record-sized FX intervention to cap the pair around 160.00.

Annual inflation in Germany, as measured by the change in the Consumer Price Index (CPI), softened to 2.6% in May's flash estimate from 2.9% in April. This print came in below the market expectation of 2.8%. On a monthly basis, the CPI declined 0.2% following the 0.6% increase recorded in April.

Germany Consumer Price Index (YoY) came in at 2.6%, below expectations (2.8%) in May

Germany Harmonized Index of Consumer Prices (YoY) came in at 2.7%, below expectations (2.8%) in May

Germany Harmonized Index of Consumer Prices (YoY) came in at 2.6%, below expectations (2.8%) in May