The GBP/USD climbed on Friday as risk appetite improved amid the start of US-Iran talks in Pakistan. Meanwhile, US inflation rose as expected in March, but traders seem confident it's a one-time jump as they remain optimistic about Middle East peace negotiations. The pair trades at 1.3461, up 0.20%.

USD/CAD reverses earlier losses on Friday, as uncertainty surrounding upcoming US-Iran negotiations keeps markets cautious and overshadows US inflation and Canadian employment data, keeping price action volatile.

The AUD/USD pair steadies on Friday, posting a slight decline after a four-day strike of gains, trading with a cautious tone amid fresh data releases in the US and geopolitical risks.

Russia Consumer Price Index (MoM) above expectations (0.5%) in March: Actual (0.6%)

The Euro (EUR) edges higher against the US Dollar (USD) on Friday, with EUR/USD extending gains for a fifth straight day, as improving risk sentiment following the US-Iran ceasefire announcement offsets the impact of firm US inflation data and keeps the Greenback under pressure.

Scotiabank’s strategists Shaun Osborne and Eric Theoret note the Euro is extending consolidation around 1.17 after sentiment-driven gains linked to easing geopolitical concerns. They highlight constructive risk reversals, supportive yield spreads and reduced demand for downside protection.

GBP/JPY edges higher on Friday, extending gains for a fifth straight day as the Japanese Yen (JPY) remains on the defensive against most of the major peers. Elevated Oil prices continue to weigh on the Yen, given Japan’s status as a major net importer.

Commerzbank’s Michael Pfister and Norman Liebke note that Mexico’s latest inflation data and Banxico minutes support a dovish stance.

Germany Current Account n.s.a. rose from previous €17.1B to €22B in February

The Euro (EUR) appreciates against its main peers on Friday, boosted by news reporting that Russia and Ukraine might be close to a peace deal. The EUR/JPY has extended its rally from mid-March lows at 182.00 to 186.50 so far, bringing the year-to-date high at 186.88 into focus.

Brazil IPCA Inflation registered at 0.88% above expectations (0.77%) in March

The Pound Sterling (GBP) trades higher against its major currency peers, except other European currencies, edging up to near 1.3444 against the US Dollar (USD) during the European trading session on Friday.

The US Dollar (USD) remains steady, relatively close to the key 160.00 level against the Japanese Yen (JPY) on Friday, as the fragility of the ceasefire in Iran has prompted investors to cut down US dollar shorts.

ING’s Francesco Pesole highlights that markets now price only 6bp for a European Central Bank (ECB) hike on 30 April, while around 55bp remains priced by year-end.

The Australian Dollar (AUD) trims gains on Friday as the US-Iran peace truce staggers. Cautious markets feature a mild return to the US Dollar’s (USD) safety following a risk-on week, and pulling the AUD/USD down from three-week highs near 0.7090 to session lows around 0.7060 so far.

Commerzbank analysts Michael Pfister and Norman Liebke highlight that Brazil’s inflation edged higher in February, and they expect today’s March data to show another fairly sharp rise in prices.

The USD/CAD pair rebounds to near 1.3833 from the two-week low of 1.3805 on Friday after snapping a four-day losing streak.

AUD/JPY edges lower after four days of losses, trading around 112.50 during the European hours on Friday. The currency cross remains subdued as the Australian Dollar (AUD) holds losses following the release of Chinese Consumer Price Index (CPI) data for March.

The GBP/JPY cross trades with a positive bias for the fifth consecutive day and hits a fresh one-month high, around the 133.85 area, during the early European session on Friday.

The (EUR) has snapped a four-day rally against the US Dollar on Friday. The pair pulled back from monthly highs at 1.1720 on Thursday to 1.1685 at the time of writing, as investors' confidence in a peace deal between the US and Iran shakes.

ING’s Francesco Pesole points to Canada’s March labour report as key for Bank of Canada (BoC) expectations, stressing that the unemployment rate matters more than volatile monthly payrolls.

Here is what you need to know on Friday, April 10:

The NZD/USD pair corrects after a four-day winning streak, trading 0.25% lower to near 0.5845 during the early European trading session on Friday.

The Euro (EUR) holds moderate gains against the British Pound (GBP) on Friday.

Silver price (XAG/USD) extends its winning streak, trading around $76.00 per troy ounce during the Asian hours on Friday.

Germany Harmonized Index of Consumer Prices (YoY) in line with expectations (2.8%) in March

Germany Consumer Price Index (MoM) in line with forecasts (1.1%) in March

Germany Harmonized Index of Consumer Prices (MoM) meets expectations (1.2%) in March

Germany Consumer Price Index (YoY) in line with expectations (2.7%) in March

The Indian Rupee (INR) ticks up against the US Dollar (USD) at around 92.45 on Friday.