Forex Today: Upbeat US data spurs risk appetite

What you need to know on Friday, April 30:

The US preliminary estimate for the first quarter Gross Domestic Product came in at 6.4%, beating expectations. The dollar, however, was unable to take advantage of the encouraging headline, instead pressured by risk-appetite.

Wall Street suffered an intraday setback, with the three major indexes turning red, although changing course ahead of the close and posting intraday gains. The greenback eased as stocks advanced.

The yield on the 10-year Treasury note peaked at 1.69% but settled around 1.65%.

Base metal shinned. Cooper and Palladium reached record highs, although gold remained within familiar levels, settling at around $ 1,773 a troy ounce.

European currencies hit fresh weekly highs against the greenback but finished the day pretty much unchanged within familiar levels.

The Canadian dollar was the best performer as oil prices kept advancing. WTI settled above $ 65.00 a barrel while USD/CAD  fell to the 1.2280 price zone.

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