US consumer confidence rises in April
Data showed that the US consumer confidence index rose this month, albeit, lower than analysts forecasts.
According to preliminary results from the University of Michigan survey of consumers, the index rose to 86.5 points in April, slightly lower than forecasts of 88.9 points.
Canadian dollar rises, shakes off mixed economic data
The Canadian dollar rose against its counterparts on Friday, on improved appetite for risky assets, commodity currencies and stocks, despite the release of mixed economic data in Canada.
Data showed that Canadian foreign securities purchases index reached CAD$8.52 billion, while analysts forecast CAD$6.05 billion.
The Canadian wholesale sales index fell by 0.7% in March, lower than forecasts of a drop by 0.5%.
The Chinese economy grew 18.3% during the first quarter of 2021, in line with analysts' forecasts.
As of 15:27 GMT, CAD/USD rose 0.4% to 0.8001, after hitting a high of 0.8004, and a low of 0.7961.
Palladium continues to rally on supply shortage expectations
Palladium prices rose on Friday, as the US dollar fell against its peers, amid expectations of a drop in the global supply of some industrial minerals.
The International Monetary Fund raised its projections for the global GDP to grow by 6% in 2021.
The Russian mining company Nornickel said last month that its production of nickel, copper, platinum and palladium would be lower by 15-20% than its primary target.
The company, which is the world's largest producer of palladium, added that based on calculations of February mine closures due to water problems, its production of palladium, nickel, copper and platinum would drop by 710,000 ounces.
The dollar index fell against a basket of major currencies by 0.1% to 91.5 points as of 13:50 GMT, after hitting a high of 91.8 points and a low of 91.5 points.
In terms of trading, palladium futures rose for June delivery by 13:50 GMT by 0.8% to $ 2762 an ounce, and the highest price was recorded at $ 2787.5 and the lowest price at $ 2725.
Dow Jones and S&P 500 hit new records in early trading
The main US stock indices opened higher on Friday, with Dow Jones and the S&P 500 hitting new highs.
This comes than to successive expectations of further recovery and growth in the US during 2021, according to the International Monetary Fund and the US Federal Reserve.
Data showed today the Chinese economy grew 18.3% during the first quarter of 2021, in line with analysts' forecasts.
Several US banks reported strong quarterly earnings results as the earnings season took off.
As for stocks, Dow Jones rose 0.4% or 130 points to 34,166 as of 14:05 GMT, Nasdaq fell 0.2% or 37 points to 14,001, and S&P 500 rose 0.1% or 6 points to 4,176.