After three successive days of losses, the Canadian market ended on a firm note on Friday thanks to sustained buying in several stocks from across various sectors, amid hopes the Federal Reserve will cut interest rate in September.

The U.S. dollar edged lower on Friday amid rising prospects of an interest rate cut by the Federal Reserve in September after the latest readings on the nation's inflation.

The Switzerland market started off on a weak note Friday morning, but recovered swiftly and then kept moving higher and higher as the day progressed to eventually close on a strong note.

European stocks closed on a firm note on Friday, with many of the markets recovering after having dropped to multi-month lows in recent sessions. Fairly encouraging economic data from the U.S., and some good earnings updates from European companies helped underpin sentiment in the markets.

The Canadian dollar weakened against its major counterparts in the New York session on Friday, as oil edged lower on China demand concerns.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Gold bent but not yet broken

Gold tested $2480 last week, after a remarkable surge that solidified its status as a preferred safe-haven asset during times of economic uncertainty.

The USD/CAD pair ended its continuous upward trend on Friday, 26 June 2024, settling around 1.3813, signalling a potential shift towards correction.

Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.

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