First-Quarter GDP Reports

Asian shares rose on Friday after U.S. equities were lifted by a rebound in technology stocks, boosted by solid earnings results.

The EUR/USD exchange rate suffered near a 3-1/2-month low, having taken a hit after the European Central Bank on Thursday struck a dovish tone as it kept interest rates unchanged. Draghi acknowledged the recent softer data but kept his strong and broad-based assessment on growth.

Weaker-than-expected economic data out of the euro zone has cast some doubt as to how quickly the ECB can head toward policy normalisation and weighed on the euro recently.

The dollar, which has drawn strength from the recent rise in U.S. bond yields, held steady against a basket of major currencies. Looking ahead, the US GDP data is firmly in focus. There are signs that economic activity slowed in the first quarter, with growth in consumer spending coming out weaker than first expected and the investment indicator not as strong as previously.

The yen showed little reaction after the Bank of Japan kept its monetary policy steady, as widely expected.

The British pound continues to trade towards the lower bounds of its recent trading range against the U.S dollar, where the UK GDP figures headline the economic data docket in European trading hours.

Oil prices edged lower on Friday ahead of Baker Hughes Weekly Rig Count Data.

Gold trading on a weaker footing at 1315, amid strength in the US Dollar and easing geopolitical tensions.