Summary:

• European stock indices experience modest gains

• Ripple surges adding to recent superb rally

• CAD traders await CPI and retail sales data

Early trading on Friday was calm with European equities posting minor advance. Nickel retreats more than 2.5% erasing a part of the latest gains. Brent trades a notch above the $74 handle. USD is the strongest currency in the G10 basket along with the CAD while NZD is the weakest one. Gold and silver trade lower on the back of the USD strengthening. In the afternoon dataset concerning Canadian retail sales and CPI inflation is going to be released therefore one may expect an increased volatility on the USDCAD.

Majority of the most notable cryptocurrencies experienced a jump in price throughout the last 24 hours causing the market capitalization of all coins to surge to $365 billion, according to the CoinMarketCap.com. The reason behind the rapid price growth could be another major bank finalizing first tests of new blockchain-based platform for the cross-border payments.

The most important European stock markets have begun Friday’s trading without any notable movements and after 90 minutes most of them keep plodding along nearby Thursday’s close price. A technical landscape has not changed since our latest analysis and the price keeps on moving within a bullish channel.

Admittedly, Asian trading did not bring any moves of note across currencies the yesterday’s decline in the British pound seems to be worth mentioning. The Great Britain pound made a sudden retreat after Bank of England Governor Mark Carney alluded there are “other meetings” during this year the Bank could lift rates.

The Friday’s calendar is not impressive to say the least as just CAD traders can find something interesting for themselves. On the other hand, there are several central bank speeches and as always it’s worth keeping a close eye on them.