EUR/USD
EUR/USD is on the back foot below 1.0800 early Friday, struggling to capitalize on the previous day’s goodish bounce. Trump’s tariff jitters keep investors on the edge, leaving the pair gyrating in a range ahead of the key US PCE inflation data.
GBP/USD
GBP/USD holds steady near 1.2950 in Friday’s European trading hours. Uncertainty over US President Trump’s tariff plans dominate and weigh on the risk-sensitive currency pair as traders look to top-tier UK and US data for fresh trading impetus.
USD/JPY
The Japanese Yen (JPY) adds to strong Tokyo consumer inflation data-inspired gains and recovers further from a four-week low touched against its American counterpart earlier this Friday. The prevalent risk-off environment and bets that the Bank of Japan (BoJ) will continue raising interest rates turn out to be key factors underpinning the safe-haven JPY. The JPY bulls, meanwhile, seem rather unaffected by worries that US President Donald Trump’s auto tariffs could impact key Japanese exports.
AUD/USD
The Australian Dollar (AUD) weakens against the US Dollar (USD) on Friday, erasing gains from the previous session. The AUD/USD pair declines amid heightened risk aversion, driven by concerns over impending US auto tariffs.
NZD/USD
The NZD/USD pair remains under selling pressure near 0.5720 during the early Asian session on Friday. The escalating trade war risks from US President Donald Trump exert some selling pressure on the Kiwi. The US February Personal Consumption Expenditures (PCE) data will take center stage later on Friday.
USD/CAD
USD/CAD continues its upward momentum for the second consecutive day, trading around 1.4310 during Asian hours on Friday. The pair benefits from increased risk aversion driven by growing concerns over impending US auto tariffs.
USD/CHF
The USD/CHF pair trades in positive territory near 0.8825 during the early European session on Friday. The Greenback edges higher as traders assess how severe tariffs scheduled to be revealed by US President Donald Trump next week are likely to impact the global economy. The US February Personal Consumption Expenditures (PCE) data will be in the spotlight later on Friday.
CRUDE OIL
Oil prices eased a touch but held near one-month highs on Friday as they headed for a third weekly gain on a tightening global supply outlook after the U.S. imposed tariffs against countries buying oil from Venezuela and placed curbs on Iranian oil trade.
Gold price continues to attract safe-haven flows amid rising trade tensions. Fed rate cut bets keep the USD bulls on the defensive and also lend support. Traders now look to the US PCE Price Index for some meaningful impetus.
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