The Bank of Canada's hawkish stance could weigh on USD/CAD in the near term, but the Fed could counter weakness if it embraces an aggressive stance at its June meeting next week.

After a subdued performance on Wednesday, silver prices spring back to life, rallying more than 3% on Thursday, boosted by U.S. dollar weakness and falling yields.

USD/JPY is down 0.5% today on the back of strong Japanese GDP and US jobless claims. The Yen now looks to push away from the 140 handle.

The US dollar continues to trade sideways despite rising US Treasury yields and expectations of higher US rates in Q3. Next week’s economic calendar will steer the dollar’s short-term trajectory.

The euro zone has technically entered a recession as downward revisions to both the Q4 2022 and Q1 2023 figures confirmed two consecutive quarters of negative growth

Spot Gold faces continuous hurdles in an attempt to push higher. Could recessionary fears rekindle the safe havens appeal or is a freefall toward $1850/oz incoming?